Workspace opens first 'net zero' building in Islington

(Sharecast News) - Workspace Group announced the opening of its first 'net zero' building, Leroy House in Islington, on Wednesday, after transforming a historic 1930s watchmaker's factory into a 57,000 square foot sustainable workspace to meet strong demand from small-to-medium enterprises. The FTSE 250 company said that by preserving 90% of the original structure and using concrete with over two-thirds recycled content, it reduced the project's embodied carbon by 40% below the industry standard.

It added that the all-electric building was powered entirely by renewable energy, supported by a smart energy management system, a green roof for biodiversity, and rainwater collection to manage flood risk.

Designed with flexibility and sustainability at its core, Workspace said Leroy House provided naturally lit, well-ventilated open spaces furnished with "upcycled" pieces.

It said 11 leases had already been signed within the first six weeks of marketing.

As part of Workspace's decade-long commitment to retrofitting, which now totalled 1.2 million square feet, the firm said the project also emphasised its social impact.

Workspace said it engaged local suppliers for over 25% of the project spend and partnered with the eXceL Project charity to deliver community programmes, including mentoring and job training.

"We take great pride in our refurbishment-led ethos at Workspace," said the company's head of sustainability, Sonal Jain.

"Leroy House is evidence that retrofitting, not rebuilding, delivers the best outcomes for our customers, the community and the environment.

"By breathing new life into existing structures, as we have done for over 35 years, we preserve London's architectural heritage, blending character with modern space that our customers want."

Jain said 90% of Workspace's customers viewed sustainability as "essential to their business", while over 70% had set their own emissions reduction targets.

"This demonstrates that our approach is not only responsible but also makes good business sense."

At 1240 GMT, shares in Workspace Group were down 0.55% at 541p.

Reporting by Josh White for Sharecast.com.