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Welput secures €481m for UK’s largest 100% electric net zero office

Welput, the specialist central London office fund managed by BentallGreenOak (BGO), has recapitalised its ownership of the landmark site, 105 Victoria Street, and secured a €481m (£400m) development finance facility to fund the construction of the scheme, due to commence this year.


Marking a return to Victoria, and demonstrating global confidence in London’s office market, the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, has co-invested alongside existing Welput investors in the development – the largest speculative West End office scheme ever to come forward, which, in April 2021, achieved Westminster City Council’s single largest ever commercial building consent.


Allianz Real Estate has provided ca. €240.5m (£200m) of the €481m (£400m) development finance facility which will partly fund the construction of the scheme. The completed development will be able to accommodate office demand ranging from 4,000ft² up to almost 450,000ft². The project’s funding coincides with BGO’s appointment of Skanska as the main contractor to deliver the scheme. Work is expected to start on site in July 2022, with completion targeted in Q2 2026.


The development, which will be managed by BGO, reflects its leadership in the sector will go well beyond industry standards for sustainability, the 500,000 sq ft building will not only be operational net zero, but achieve net zero embodied carbon using innovations in ultra-low carbon construction to minimise the carbon intensity of the development such that the carbon emitted will be offset within six years of the new building’s operations in comparison to the retention and refurbishment of the existing building.


Not only will the building be the largest all-electric office in the UK, but BGO has committed to the development’s energy being supplied from fully renewable sources, with no gas supply and no diesel generator on-site, ensuring zero fossil fuels in operation and during construction. As a result, the building is designed to meet EPC A and WELL ‘Platinum’ certification and exceed RIBA 2030 sustainability targets as well. The scheme is also the UK’s first office building to target a combined BREEAM ‘Outstanding’ and 5.5* NABERS rating, the world-leading environmental performance rating tool which rates the operational energy use of offices.


BGO has engaged partners to deliver the scheme that are aligned with its own ambitious ESG vision and can meet the demanding standards of sustainability and positive social impact that the project requires; Allianz Real Estate, PSP Investments and Welput’s investors have all committed to contributing to the project’s robust Social Impact Charter, which will implement ambitious programmes across school engagement, volunteering, and upskilling in the local community.


Ker Gilchrist, Managing Partner at BentallGreenOak said: “PSP Investments’ commitment, alongside existing Welput investors’ in 105 Victoria Street, demonstrates an ongoing commitment to London and absolute confidence in its future as a global hub. This project is surpassing the existing and emerging standards for green development, with a comprehensive whole-life carbon approach. The building will achieve net-zero in construction, then operation, and after just six years of its lifespan will be net beneficial to the environment. To deliver this ultra-sustainable building and attract the next generation of aspirational tenants, we have secured a significant financial deal with partners that stand shoulder to shoulder with us on our commitment to ESG and who bring a strong track record in projects of this nature.”


Designed by architect Kohn Pederson Fox, alongside interior architect Henning Larsen, 105 Victoria Street will create a new kind of community-focused, experiential building in Victoria, providing up to 450,000ft² of world-class workspace, including 5,500ft² dedicated to the incubator and affordable space, and over 30,000ft² of retail space, all designed to foster the health and wellbeing of its end users.


It will also provide almost 30,000ft² of greenspace and terracing – the largest of any commercial building in the West End and equivalent to 10 double tennis courts – which will include a 200m ‘walk and talk’ track and an urban farm with community allotments.


Dedicated space to serve and connect the community will cover 90,000ft², with a central Village Square provided at street level, providing inclusive public space and serving the neighbourhood needs with a considered retail offering that is aligned with the sustainable and community-focused ethos of the building. Welput, is also developing an extensive programme with the local community and stakeholders to ensure the building provides benefits to the local area, including providing dedicated flexible space for community use, engagement programmes with local schools and initiatives to support disadvantaged groups.


Stéphane Jalbert, Managing Director and Head of Asia-Pacific and Europe, Real Estate Investments, PSP Investments, said: “PSP Investments is pleased to establish this new partnership with BGO and Welput on what will be UK’s largest 100% electric net-zero office building. This fossil-fuel-free development aligns with PSP’s strategy to invest in sustainable buildings that have a positive impact on the community and better position our London portfolio for the future.”

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The 11 things that make your garden look tacky, revealed by a top expert – including the flower colour that just screams cheap

A well-maintained garden may be a relaxing retreat – but it can also boost the kerb appeal and even the value of your home.

But, if done the wrong way, efforts to enhance your outside space can leave it looking cheap.

From choosing the wrong plant pots to – counterintuitively – being too tidy, the Mail’s gardening editor looks at the 11 common errors that can cheapen your garden, rather than helping it thrive. 

When tidy is too tidy

Many of us were brought up with strict ideas about well-kept gardens, with lawns neatly mown and weeds all pulled up. But that is no longer the prevailing aesthetic.

Letting go a little and being slightly untidy can lead to a more expensive looking haven. And leaving self-sown plants in summer and seed heads over winter will make your garden look more expensively abundant. Phew!

Wildflower beds with self-sown plants are now the prevailing aesthetic

Wildflower beds with self-sown plants are now the prevailing aesthetic 

Yellow’s not mellow

Don’t get me wrong, I have a soft spot for bright yellow flowers such as daffodils and sunflowers. But such garish flowers must be used in the right context.

Expansive garden beds the colour of a hi-vis vest? It’s a no. Yellow is difficult to match with other colours and should be used sparingly.

The perils of artificial grass

The quickest way to make your garden look cheap is to lay artificial turf. Used widely in sporting venues, fake grass became popular because it doesn’t need to be mowed or watered so is seen as low-maintenance and hard-wearing. But it almost always looks naff.

Plus, the disadvantages far outweigh the benefits. It is ruinous for wildlife and adds to global warming by absorbing more radiation than living grass, which acts as a carbon sink. Natural lawns allow rainwater to be soaked up, whereas artificial grass can cause run-off after heavy rainfall leading to flooding.

In hot weather, it can reach dangerous temperatures, especially for pets who might burn their paws. Plus, it only has a lifespan of ten to 20 years, after which time it is difficult to recycle.

 Soulless bare fences

Fences without greenery can make your garden look boxy and cheap. There are plenty of easy climbers you can plant to soften the feel and make your garden look more high-end.

Star Jasmine is a lovely evergreen with pretty white flowers, while climbing hydrangea is good for a shady corner.

If you want privacy, remember evergreen hedges can’t be more than 2m high, according to the High Hedges Act. Instead try planting deciduous silver birch trees with attractive white trunks and green foliage in summer when you are out in the garden.

Don’t settle for plastic furniture

Moulded plastic chairs are unsightly and should be avoided at all costs. Plus, they’re uncomfortable and topple if you lean too far back, or slice into any bare flesh unfortunate enough to touch the seat.

If your budget won’t stretch to buying new wood, rattan or metal alternatives, search local online groups to see if anyone has second hand deck chairs or outdoor dining sets on offer.

If you are willing to buy something preloved and weathered, it can often cost less but look more expensive.

Thin borders, a thing of the past

Narrow flower beds around the edge of a rectangular lawn used to be thought of as the ideal garden design, but these days it just looks scrimping.

Borders should be at least a metre deep to allow for multi-layered planting. Don’t just put them around the perimeter of your garden. Flower beds used to divide up a space add a touch of mystery and look much classier.

Gadgets and gazebos

Barbecues, fire pits, corner sofas, gazebos, over-sized paddling pools – its easy for your outdoor space to become cluttered with so many garden gadgets you can’t move around without tripping over them.

Decide what you really need and use often, then recycle the rest. Or store them away neatly in the shed until you want to use them.

Plastic plant pot horror

It is tricky to keep plants looking good in plastic containers, even the ones that attempt to imitate terracotta.

As well as the lack of sustainability, the trouble with plastic is that unlike materials such as wood and stone, it provides no protection for plants against drying out in summer and freezing in winter, and it is not breathable.

If you do have plastic pots, reuse them for propagating and save your best non-plastic containers for display purposes.

Paving the way to disaster  

Every gardener needs somewhere to sit, but this shouldn’t come at the expense of losing too much of your lawn.

Ideally there should be a ratio of at least two-thirds planting and grass to one-third hard surface. If you are putting in a new patio, consider leaving gaps between the pavers for low plants such as creeping thyme and Mind-Your-Own-Business which will also help with drainage. 

If you want to park your car in your front garden, choose a permeable surface with planting around the edges.

Fly-away greenhouses

I must confess I own one of these mini shelving units covered in a zip-up, see-through plastic smock. But after it fell over outside one too many times in windy weather, despite being tied to the wall, I have brought it in to our lean-to where I now use it as a propagating unit. A pile of overturned seed trays and spilled soil does nothing to add to kerb appeal.

Do away with dead pot plants 

Well-tended container planting can add a cheerful welcome to a garden or balcony, but there is little as off-putting as being greeted by a collection of unidentifiable shrivelled dead plants in pots.

Avoid this by doing your research and choosing plants you love which will encourage you to water and feed them regularly. Having a water butt nearby makes this task much easier.

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Assessing Property Size: What Square Footage Can You Get With The Average UK House Price In Your Area?

Assessing Property Size In The UK

In the United Kingdom, there is a prevailing tendency to gauge the size of residences based on the number of bedrooms rather than square footage. In fact, research indicates that three out of five individuals are unaware of the square footage of their property.

However, a comprehensive analysis conducted by Savills reveals significant variations in property sizes throughout the country. For instance, with the average property price standing at £340,837, this amount would typically afford a studio flat spanning 551 square feet in London, according to the prominent estate agency.

Conversely, in the North East region, the same sum would secure a spacious five-bedroom house measuring 1,955 square feet, nearly four times the size of a comparable property in London.

Best value: Heading to the North East of England is where buyers will get the most from their money

In Scotland, the median house price equates to a sizable investment capable of procuring a generous four-bedroom residence spanning 1,743 square feet. Conversely, in Wales, Yorkshire & The Humber, and the North West, this sum affords a slightly smaller four-bedroom dwelling of approximately 1,500 square feet, while in the East and West Midlands, it accommodates a 1,300 square foot home. In stark contrast, within the South West, £340,837 secures a modest 1,000 square foot property, and in the East, an even more confined 928 square feet.

London presents the most challenging market, where this budget offers the least purchasing power. Following closely, the South East allows for 825 square feet of space or a medium-sized two-bedroom dwelling. Lucian Cook, head of residential research at Savills, emphasizes the profound disparity in purchasing potential across Britain, ranging from compact studio flats in London to spacious four or five-bedroom residences in parts of North East England.

While square footage serves as a critical metric, with a significant portion of Britons unfamiliar with their property’s dimensions, the number of bedrooms remains a traditional indicator of size. Personal preferences, such as a preference for larger kitchens, may influence property selection. For those prioritizing ample space, Easington, County Durham, offers a substantial 2,858 square foot, five-bedroom home, while Rhondda, Wales, and Na h-Eileanan an Iar, Scotland, provide 2,625 and 2,551 square feet, respectively. Conversely, in St Albans, Hertfordshire, £340,837 secures a mere 547 square feet, equivalent to a one-bedroom flat.

The disparity continues in central London, where purchasing power diminishes considerably. In Kensington, the budget accommodates a mere 220 square feet, contrasting with the slightly more spacious 236 square feet in Westminster. Conversely, in Dagenham, the same investment translates to 770 square feet. Three properties currently listed on Rightmove exemplify the diversity within this price range across the UK market.

South of the river: This semi-detached house is located near to three different train stations

South of the river: This semi-detached house is located near to three different train stations

2. Lewisham: One-bed house, £345,000

This one-bedroom property in Lewisham, South London, is on the market for £345,000.

The semi-detached house is set over two floors, and has a private patio.

The property is located near to bus links and amenities, as well as Catford train station.

Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh

Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh

3. Edinburgh: Three-bed house, £350,000

This three-bedroom detached house in Edinburgh could be yours for £350,000.

The house, which has a two-car driveway, boasts a large kitchen diner, and is within easy reach of Newcriaghall train station.

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The house that Poundland bought: Moated manor complete with a swimming pool and a museum about the budget chain that was owned by late founder Keith Smith goes on the market for £7.75m

A stunning manor that was bought by the late founder of Poundland has gone on the market for £7.75million.

The nine-bed refurbished Jacobean mansion in Claverley, Shropshire has its own swimming pool and features a museum dedicated to the budget chain. 

Keith Smith launched the discount chain in 1990 with his son Steve and together they grew the enterprise to over 70 stores before selling it for £50million in 2002.

Mr Smith, who grew up in nearby Willenhall, bought Ludstone Hall in 1997 with his Poundland profits upon returning to the UK.  He died in 2022, aged 79, after a short battle with cancer and his wife Maureen passed away a few months later.

Now, his son Steve and his siblings are selling his late father’s beloved home for £7.75million. 

Ludstone Hall dates back to Medieval times but the current property was built in 1607 for the Whitmore family. The estate stayed in the family until 1867 and has only had a handful of owners since.

Steve Smith (pictured) at the moated manor home which his parents bought in 1997

Steve Smith (pictured) at the moated manor home which his parents bought in 1997 

The Poundland museum which is located inside Ludstone Hall

The Poundland museum which is located inside Ludstone Hall 

One of the dining rooms in Ludstone Hall which was owned by co-founder of Poundland Keith Smith

One of the dining rooms in Ludstone Hall which was owned by co-founder of Poundland Keith Smith 

The home is now on the market for £7.75million

The home is now on the market for £7.75million

The swimming pool located inside the manor home in Shropshire

The swimming pool located inside the manor home in Shropshire 

Poundland's co-founders Steve and Keith Smith pictured together

Poundland’s co-founders Steve and Keith Smith pictured together

The manor has period features such as mullioned windows, panelled reception hall, stone fireplaces and the remarkable survival of the original lead rainwater goods.

The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars. 

A leisure complex at the rear includes the swimming pool with retractable floor, a handmade oak bar, separate dining area and a hot tub under a raised platform.

There is a two-bedroom gate lodge on the grounds and a number of outbuildings, including a coach house that the Smiths converted to create a museum to the history of both the estate and Poundland.

The formal gardens include box hedging, lawns, squash court, the moat, raised terraces, a lake and an orchard.

Steve Smith (pictured) outside his parents' home in Claverley, Shropshire

Steve Smith (pictured) outside his parents’ home in Claverley, Shropshire 

The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars

The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars

The kitchen area inside the property which has an island and a chandelier

The kitchen area inside the property which has an island and a chandelier 

One of the living rooms in the property which boasts period features

One of the living rooms in the property which boasts period features 

A luxurious main double-bedroom at the home which features a four-poster bed and fireplace

A luxurious main double-bedroom at the home which features a four-poster bed and fireplace

A Poundland store in Staines-upon-Thames, Surrey

A Poundland store in Staines-upon-Thames, Surrey

After leaving school, Keith Smith worked as an apprentice draughtsman before running a market stall and the Hooty’s cash & carry in Willenhall, Walsall. 

When his son Steve turned 18 and wanted to launch a business of his own, his father gave him the idea of starting up a shop where everything was £1.

With a £50,000 loan from Keith, the pair co-founded Poundland, with the first shop opening in Burton upon Trent, in Staffordshire.

Steve, 61, said: ‘When my parents came back to the UK they wanted to find a home where they would never want to move from, and they certainly found that at Ludstone.

‘My mum and dad really loved their time at the estate which can be seen in the amount of money they invested in the property – it really is the home that Poundland built.

The home was bought in 1997 by Keith Smith with his Poundland profits

The home was bought in 1997 by Keith Smith with his Poundland profits 

Mr Smith and his wife Maureen spent £7million on a major refurb of the nine bedroom Jacobean mansion

Mr Smith and his wife Maureen spent £7million on a major refurb of the nine bedroom Jacobean mansion

The swimming pool which is located underneath the floor

The swimming pool which is located underneath the floor

A bridge across the moat which surrounds the stunning property in Claverley

A bridge across the moat which surrounds the stunning property in Claverley 

‘One particular investment they made was installing the swimming pool. They wanted to have a big party for the millennium so had one with a retractable floor installed so that the room could also be used to host events.

‘Living locally myself, I have some really happy memories of their time here. I used to bring dad the broken sweets we couldn’t sell and he’d feed them to the cows that he kept in the grounds. The cows were sold to a supermarket chain who said that it was the sweetest meat they’d tasted.

‘We’d also hold charity events and open up the museum to visitors and raised thousands of pounds for local good causes over the years.

‘The property holds so much historic significance, and has only had a handful of owners since it was built. We’re now keen to see the property go to a new family who can make their own memories here.

‘While the Ludstone Hall Estate section of the museum will remain at the property, we’ll also be donating all of the Poundland memorabilia to Poundland so that they can preserve the history of the company.’

Ludstone Hall is being sold by estate agents Fisher German.

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