Standard Chartered pledges continued commitment to City of London with long-term office lease

Standard Chartered has demonstrated its continued commitment to the City of London, having agreed a long-term reversionary lease on its Global Headquarters at 1 Basinghall Avenue, EC2V 5DD.

As part of the lease restructure the landlord, Zeno Capital and Asset Managers, Oxygen, will be working in partnership with the FTSE listed global bank to undertake a full refurbishment project to deliver  enhanced employee amenity and wellbeing facilities, alongside new office technology.

The building upgrade project starts in 2023, will complete by 2026 and targets BREEAM Excellent and LEED Gold or equivalent.

Andy Halford, Group Chief Financial Officer, Standard Chartered commented: “We are delighted to extend our lease at 1 Basinghall Avenue in the heart of the City of London. The planned refurbishment will create an energising, inspiring and modern workplace that aligns with our hybrid working model and encourages seamless collaboration and communication, benefitting our clients and employees.”

Mike Harris, Co-founder of Oxygen Asset Management commented: “Zeno Capital and Oxygen look forward to continuing our long standing partnership with Standard Chartered at 1 Basinghall Avenue and are excited about taking forward the extensive and best in class building enhancement works we have planned”.

Standard Chartered was advised by CBRE and Simmons & Simmons. Zeno Capital and Oxygen were advised by and BH2 and Wedlake Bell.