Ivanhoé Cambridge and PIMCO Prime Real Estate announce the completion of Stonecutter

"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. " The completion...

London, 29/05/2025 (informazione.news - comunicati stampa - servizi)

" ," said Christina Forrest , Managing Director, Real Estate, Europe , at CDPQ.

Niki Dembitz , Head of UK & Ireland at PIMCO Prime Real Estate, commented: " ."

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 per square metre. This is a significant saving on the London Plan aspirational target of 600 kg CO 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 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 stonecutter.london 

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: ivanhoecambridge.com / cdpq.com

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 in assets and a broad set of solutions that leverage decades of expertise across public and private equity and debt markets.

 

+ 1 514 847-5493
medias@cdpq.com

Phillip Lee
PIMCO Prime Real Estate – Media Relations
Ph. +49 (0)89 3800 8234
Email: phillip.lee@pimcopre.com

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