Immediate Letting For Breeam ‘Very Good’ Fitzrovia Offices

Share LinkedIn Email

Lothbury Investment Management Limited, on behalf of Lothbury Property Trust, has achieved a BREEAM ‘Very Good’ rating following the comprehensive refurbishment of its Tudor House period office building in Fitzrovia, London. Letting of the entire building was achieved within two months of Practical Completion.

The building is located at Gresse Street, W1 and comprises approximately 5,000 sq. ft. (NIA) of office accommodation over four floors. All office floors were let in their entirety to financial wellbeing technology business, Wagestream.

Wagestream is Europe’s fastest-growing provider of financial wellbeing services, working with employers to reduce financial stress for over half a million workers. Launched in 2018 and part-owned by the UK’s leading financial charities, the company now has over 100 employees and growing teams in the UK, Spain, Australia and the United States; the new Fitzrovia office will serve as Wagestream’s main workspace for London and UK-based staff.

Jonathan Strong, Asset Manager for Lothbury Investment Management said: “Tudor House is a landmark building and a very high quality refurbishment. We are delighted to have completed a letting of the whole building within just two months of practical completion, which demonstrates that, even in the current challenging London office market, demand remains strong for ‘best in class’ accommodation.”

The refurbishment involved each floor being finished in a “media style” and fitted with a new exposed VRF air conditioning system, supply and extract ventilation, LED lighting with daylight and PIR controls and engineered wood flooring. Reconfiguration and rationalisation works added c.100 sq. ft. NIA to the building.

The office entrance and common areas have been redecorated in a clean, contemporary style that subtly references the building’s Art-Deco heritage. On the roof terrace, new furniture, lighting and planting has provided an enhanced recreational area for tenants.

Jonathan Strong continued: “Lothbury is fully committed to building sustainable assets. The transformation of Tudor House has been exceptional, and we are pleased to have achieved BREEAM ‘Very Good’ in this refurbishment, particularly as this is a period building. This underlines the Fund’s commitment to achieving our sustainability aims by improving existing core portfolio assets and sustainably developing active portfolio properties.”

Lothbury achieved net zero carbon certification in construction on Tudor House by offsetting 85 tonnes of CO2 to an independently certified Gold Standard.

Photovoltaic cells installed on Tudor House provide a minimum of 10% renewable contribution, whilst low energy use fixtures and fittings have been fitted wherever possible to improve the building’s EPC rating. A cycle storage area with racks for eight bicycles has been installed to encourage exercise and help reduce congestion and emissions.

Important notice

This is the website of Lothbury Investment Management Limited of 1 Angel Lane, London, EC4R 3AB, United Kingdom, a company registered in England with registered number 04185370. Lothbury Investment Management Limited (or “LIM”) is authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).

Restrictions on Access

Certain jurisdictions may restrict by law access by their residents or nationals to the information on this website. The contents of this website are not intended to be accessed by, distributed to or used by residents or nationals of such jurisdictions. It is the responsibility of any person accessing this website to satisfy itself that its use of the website complies with the laws of any relevant jurisdiction. Under United Kingdom legislation, the promotion of units in the Funds by LIM is restricted by section 238 of the Act. The promotion of units by the Funds themselves or, in the case of LPT, by its trustees in the UK is restricted by section 21 of the Act. Accordingly, the information on this part of the website is directed only at and should only be acted on by:

  1. persons who are outside the UK;
  2. investment professionals within the meaning of Article 14(5) of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (the “CIS Exemptions Order”) and Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”), which includes persons whose ordinary activities involve him in participating in unregulated schemes for the purposes of a business carried on by him; and/or
  3. high net worth organisations to whom Article 22 of the CIS Exemptions Order and Article 49 of the Financial Promotion Order apply. This includes companies or partnerships with net assets of GBP 5m or more and trustees of trusts with assets of GBP 10m or more); and
  4. others to whom it may lawfully be directed.


The purpose of this website is to provide general information about Lothbury Investment Management Limited and the Funds. The Funds and Lothbury Global Feeder Limited but not any investors in these entities are clients of Lothbury Investment Management Limited. Nothing on this website is investment, tax or legal advice, nor is anything on this website a placement or offering to buy or sell units or any other investment. Tax treatment depends on individual circumstances and may be subject to change in the future. You should take your own independent investment, tax and legal advice as you think fit.

Please be aware that ultimately interests in the Funds may only be acquired by professional investors. A professional investor, for the purposes of LGF, is every investor that is considered, or may be treated, based on a request to LIM (as the AIFM), as a professional client or an eligible counterparty as those terms are used in exemption 7 of COB 4.12.4 of the Handbook of rules and guidance issued by the Financial Conduct Authority of the United Kingdom. A professional investor, for these purposes of LPT, is every investor that is considered, or may be treated based on a request to LIM (as the AIFM), as a professional client within the meaning of Annex II of the Markets in Financial Instruments Directive (2011/61/EC).

Subject to applicable law and satisfaction of any relevant notification or other requirement the Funds may be marketed (within the meaning of the Directive) within certain jurisdictions in the European Economic Area ("EEA"). Potential investors can request details of such jurisdictions from LIM. LGF is intended for persons who are not established or resident in the United Kingdom.

The information contained in this section does not constitute an offer or solicitation to any person or entity which is United Kingdom Resident for tax and investment purposes, to buy or sell shares or any other security whatsoever in other jurisdictions where it would be unlawful to do so, including but not limited to, Ireland and the United States of America.

Please tick that you have understood and accept the important notice set out above and agree to the matters addressed in it.