(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces it has completed a major pre-let at its One Liverpool Street development in London. The letting has been agreed with Dentons, the world's largest global law firm.
Developed for completion in January 2026, One Liverpool Street will provide 176,000 sq ft of leasable office and retail space, spread across the ground and upper ten floors.
Dentons will take 67,600 sq ft of space in the building on an initial term of 15 years and expect to move into the building by mid-2026.
One Liverpool Street is being developed with environmental and sustainability credentials front-and-centre in its design. It is targeting a BREEAM ‘Outstanding’ rating, the highest certification that can be achieved when assessing the sustainability performance of a building through BREEAM’s third-party certification scheme, while also meeting Carbon Risk Real Estate Monitor’s (CRREM) decarbonisation pathway requirements and being compliant with EU Taxonomy.
The building will be 100 per cent electric with no gas boilers, and include nearly 300 cycle spaces and high-quality end-of-journey facilities. It is expected to have a 33 per cent carbon saving over current Building Regulations and will contain high performance HEPA filters which will remove at least 99.97 per cent of particles from the air and a green roof to enhance biodiversity and provide rainwater attenuation.
Aviva Investors recently highlighted the strong investment case it believes exists for London offices, in a research paper assessing the prospects for London real estate in a post-Brexit, post-COVID world.
Ed Atterwill, Head of Central London at Aviva Investors, said:
“We are delighted to complete this letting with Dentons, which demonstrates a continued demand from businesses for best-in-class buildings in the most connected areas of London and particularly those with market leading sustainability credentials. One Liverpool Street has stringent carbon reduction targets, aiming to lower ongoing energy needs through use of efficient materials and specific performance goals.”
Paul Jarvis, Chief Executive Officer of Dentons UK, Ireland and Middle East, added:
“In One Liverpool Street we have selected an office that offers excellent transport links, access to fantastic local amenities and exemplary sustainability credentials. As one of the first occupants we will be able to shape the space, as we did with our recent moves into flagship offices in Dublin and Edinburgh, to balance the needs of our people and clients and drive the increased connectivity that our new strategy requires.”
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Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 27 June 2023. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested.
Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St Helen’s, 1 Undershaft, London, EC3P 3DQ Authorised and regulated by the Financial Conduct Authority.
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with £223 billion in assets under management as at 31 December 2022.
Notes to editors:
· We are one of the UK’s leading Insurance, Wealth & Retirement businesses and we operate in the UK, Ireland and Canada. We also have international investments in India, China and Singapore.
· We help our 18.7 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
· We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2022, we paid £23.2 billion in claims and benefits to our customers.
· Aviva is a market leader in sustainability. In 2021, we announced our plan to become Net Zero by 2040, the first major insurance company in the world to do so. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
· While we are working towards our sustainability ambitions, we acknowledge that we have relationships with businesses and existing assets that may be associated with significant emissions. More information can be found at https://www.aviva.com/sustainability/climate/
· Aviva is a Living Wage and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at https://www.aviva.com/about-us/our-people/
· As at 31 December 2022, total Group assets under management at Aviva Group were £352 billion and our estimated Solvency II shareholder surplus is £8.7 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
· For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
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Aviva Investors Global Services Limited
St Helen’s, 1 Undershaft, London, EC3P 3DQ
Phone +44 (0)20 7809 6000
Fax +44 (0)20 7489 7940
Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.
Registered Office: St Helen’s, 1 Undershaft, London, EC3P 3DQ. Authorised and regulated by the Financial Conduct Authority and a member of the Investment Association.
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