Latest news with #Stonecutter
Cision Canada
29-05-2025
- Business
- Cision Canada
Ivanhoé Cambridge and PIMCO Prime Real Estate announce the completion of Stonecutter Français
This prime office space in the heart of London achieved 93% pre-leasing at Practical Completion LONDON, May 29, 2025 /CNW/ - Ivanhoé Cambridge, the real estate group of CDPQ, and PIMCO Prime Real Estate announced today the completion of Stonecutter, a 13-story super-prime office building in the heart of London. This milestone represents the culmination of the redevelopment creating a state-of-the-art workspace, tailored to meet the demands of modern businesses with its optimized floor plates and sustainable features. The 240,000 sq ft office space is 93% leased to law firm Travers Smith and travel platform company Trainline. " The completion of Stonecutter and the decision by our tenants to partner with us underscore the fact that high-quality workspaces with exemplary sustainable credentials are what companies are looking for in today's evolving office landscape. This redevelopment provides increased amenities to its occupiers, helps reduce the carbon footprint of the building and offers new life to the London office sector," said Christina Forrest, Managing Director, Real Estate, Europe, at CDPQ. Niki Dembitz, Head of UK & Ireland at PIMCO Prime Real Estate, commented: " We have been consistent in our conviction that high-quality, well-located office concepts will continue to be in high demand. That Stonecutter is 93% leased on completion confirms this conviction. We're excited to be delivering this state-of-the-art office to our tenants, creating long-term value to our clients and adding to the City of London's appeal." Situated in Farringdon, one of London's most desirable and vibrant areas, the property offers easy access to transport hubs, prestigious residential neighbourhoods, shops, restaurants and the new cultural institutions soon to arrive in Smithfield. The redevelopment project successfully increased the net lettable area from the previous building by 66%. The new building is arranged over basement levels, ground, podium, and 13 upper floors, three of which benefit from expansive roof terraces. Stonecutter has been constructed with one of the lowest embodied carbon inputs of any new office building in the City of London at 581 kg CO 2 per square metre. This is a significant saving on the London Plan aspirational target of 600 kg CO 2 per square metre. The building will operate on a net zero carbon basis, benefitting from electric heating and cooling and a commitment to procure renewable power where available. The property aligns with BREEAM and WELL certifications and follows the CRREM pathway ensuring compliance with the Paris Accord and meeting the highest standards of environmental performance. Stonecutter is also forecast to emit just 263 kg CO 2 per person through occupation, which is 44% of the Paris Accord's outlined target of 600 kg of carbon emissions per person per year for real estate activities. In 2021, Ivanhoé Cambridge and PIMCO Prime Real Estate secured a major off-plan pre-let with the leading UK law firm, Travers Smith, committing to a 15-year lease on 158,000 sq. ft. The move is scheduled for March 2026. In March 2025, a second major lease of 60,000 sq ft was concluded with Trainline, the leading independent rail and coach travel platform, for a 10-year term. Trainline is set to move to its new headquarters in 2026. The redevelopment, designed by TP Bennett, was managed by CO-RE as the development manager and MACE as the general contractor. For more information on Stonecutter, visit About Ivanhoé Cambridge Ivanhoé Cambridge, the real estate portfolio of CDPQ, manages CAD 75 billion in gross assets. Through strategic alliances, it has established a global presence, holding interests in over 1,500 properties across the logistics, residential, office, and retail sectors. As a global investment group managing funds for public pension and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. CDPQ is active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2024, CDPQ's net assets totaled CAD 473 billion. For more information: / About PIMCO Prime Real Estate A leading global real estate investor and manager, PIMCO Prime Real Estate is a PIMCO company and part of the PIMCO real estate platform, focusing on the Core and Core+ segments of the market and managing the Allianz group's $85B real estate mandate. PIMCO's real estate platform is one of the largest and most diversified in the world, with $174B 1 in assets and a broad set of solutions that leverage decades of expertise across public and private equity and debt markets. 1 As of December 2024. All figures in USD. AUM includes c. $90B in estimated gross assets managed by PIMCO Prime Real Estate, which includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC, and their subsidiaries and affiliates. PIMCO Prime Real Estate LLC investment professionals provide investment management and other services as dual personnel through Pacific Investment Management Company LLC. PIMCO Prime Real Estate GmbH operates separately from PIMCO. For more information CDPQ Media Relations Team + 1 514 847-5493 [email protected] PIMCO Prime Real Estate Phillip Lee PIMCO Prime Real Estate – Media Relations Ph. +49 (0)89 3800 8234 Email: [email protected]
Daily Mirror
25-04-2025
- Sport
- Daily Mirror
Ange Postecoglou gets philosophical with Spurs stars before season-defining week
Tottenham travel to Anfield on Sunday with the potential to delay Liverpool's title party but Ange Postecoglou knows the real priority is Thursday's Europa League semi-final against Bodo/Glimt Ange Postecoglou has been teaching his Tottenham stars the Stonecutter's Credo ahead of their season-defining Europa League semi-final. But it remains to be seen whether the beleaguered Spurs boss will get to take the 101st blow that cracks the rock. Tottenham face Liverpool tomorrow with nothing to play for beyond delaying the champions' elect from partying. And while Postecoglou insisted they head to Anfield looking to do more than come through unscathed on the injury front, no one is pretending that getting past Bodo/Glimt in their Europa tie is the real priority. The Australian's future beyond the summer may hinge on lifting the trophy in Bilbao next month and he admits 'only time will tell' if he can fulfil his plan to change the club's culture. 'I talk to the players a lot about the stone cutters' creed,' Postecoglou said. "Only the 101st blow cracks the rock but no one sees the other 100 blows. And they think it's the last one that does it. It's not. "Time will tell whether what I've tried to do over the last two years gets us to crack that stone. If not, maybe I haven't. But you won't know how much I've had an impact until we get to that place. 'We need to try and take the opportunity that's before us right now and that won't happen because we're good for the next two or three weeks. That will only happen if what's got us to this place gets us what we want.' A 19th league defeat tomorrow would see Spurs tie their most in a Premier League season. Yet Postecoglou believes the team has been going through a 'painful rebuild' and the decision to commit heavily to recruiting young players who are developing quickly remains the right one. 'There's no other way to describe our season in the league other than one that's fallen well below expectations. But there's still an opportunity for us to do something special,' he added. 'There's always pain in rebuilds because invariably you dip in the bottom end of the pool in terms of age demographic and you want that team to grow. 'If we'd done this last year we'd probably be paying the same price but last year we still had some experience in the group to get us through. 'But this year we went young, which is the right strategy I believe - because you've seen the growth in our young players that I just think is so exciting for the years to come.' Captain Heung-min Son returned to training yesterday and will not be involved tomorrow but Postecoglou is hopeful he can feature against Bodo/Glimt.
