Real Estate News 28 February 2023

Unity Real Estate begin construction to add Grade A office and retail space to Bethnal Green

Unity Real Estate begin construction to add Grade A office and retail space to Bethnal Green

Construction work to transform 469 Bethnal Green Road into high quality and low carbon Grade A office and retail space has begun, Unity Real Estate can confirm.

The project, which will transform the former warehouse into sustainable, flexible and modern office space, is scheduled to complete in Spring 2024. Once finished, it will offer up to 20,000sq ft of Grade A office space in a thriving part of East London, as well as ground floor retail opportunities. The building is located just over the road from Bethnal Green Underground station, served by Central Line services through the city and out into East London.

Main contractor MY Construction was selected to oversee the work last year following a competitive tender. The team will preserve the majority of the existing structure, saving many tonnes of embodied carbon, before adding three new storeys. Passive heating and cooling systems will be used, along with other low energy technologies to reduce the energy in use of the resulting office and retail space.

The new floors will be clad in galvanized steel, bringing an iconic piece of new architecture to one of London’s most creative boroughs. Design work for the project has been carried out by architects Carmody Groarke.

The Bethnal Green development is an exciting development for Unity Real Estate, its first in Bethnal Green, which will complement its existing portfolio of property across central London.

Unity Group Chief Executive Officer Danny Ungar said: “We are pleased to see construction getting underway at 469 Bethnal Green Road. This iconic project will be transformational for Bethnal Green Road, re-imagining and repurposing an old warehouse to create much needed office space.

“By keeping the original structure of the building we are minimising embodied carbon. This coupled with ambitious targets for energy in use will ensure that we are delivering the high quality and low carbon office space demanded by occupiers.”

Lukas Barry, associate director at Carmody Groarke, said: “The characteristics of the existing warehouse building are not erased, but instead form the basis for the composition of the new lightweight extension, which improves its proportions, setting and overall functionality by doubling its height with a new three-storey, timber-framed structure.”

Unity Real Estate is part of Unity Group, a London-based global investment business which specialises in property and shipping, through Unity Real Estate and Maritime respectively.