Oxygen, a leading asset management firm, is overseeing a significant upgrade to One Basinghall Avenue, a landmark building in London’s Square Mile. Acting on behalf of client Zeno Capital, Oxygen is spearheading the project to modernise the building, reflecting the evolving demands of the post-pandemic workplace.
Oxygen successfully negotiated a lease extension with Standard Chartered Bank (SCB), the building’s primary tenant in Q1 2024. The agreement extended SCB’s tenancy until 2037 and includes a commitment to occupy the six upper floors and part of the ground floor. In the period since, SCB reconsidered their occupational requirements and extended their commitment to include the entirety of the third floor. This move signals a broader trend among businesses reassessing their office needs post-pandemic, shifting from initial reductions to an emphasis on collaborative, high-quality workspaces.
A significant refurbishment is underway at One Basinghall Avenue with work on site commencing earlier this year to transform the building into a state-of-the-art office destination. The project will introduce a centralised reception area to create a welcoming experience for tenants and visitors alike. Upgraded amenities will cater to modern business needs with thoughtfully designed quiet zones for focused work, as well as providing communal areas for collaboration.
A rooftop terrace will further enhance the workplace offering, providing premium outdoor space in the heart of the City of London. Additionally, substantial mechanical, electrical, and plumbing (MEP) upgrades are being implemented to meet modern standards and future-proof the building.
One Basinghall Avenue is perfectly positioned in the heart of London’s financial district, just north of Bank and a short walk from Moorgate. Upon completion of the works over 55,000 sq. ft. of prime office space will be available to let on the first, second, and part of the ground and lower ground floors, offering a rare opportunity to secure a foothold in this prestigious location.
Sustainability is also a core focus of the building refurbishment. The project is targeting an EPC rating of A, as well as certifications including BREEAM Excellent and Nabers 4.5 star ratings, aligning with the City of London’s overall drive for energy-efficient, environmentally responsible buildings.
BW: Workplace Experts has been appointed as main contractor for the landlord, with practical completion scheduled for December 2025. The refurbishment will ensure One Basinghall Avenue remains a flagship office destination, meeting the needs of modern businesses and reinforcing the enduring appeal of the City of London.