Five Bank Street is an award-winning office headquarter for the international finance institution, the European Bank for Reconstruction and Development. The flagship workplace reflects the bank’s sustainability mandate and its diverse culture.
KEY INFORMATION
Location: London, UK
Date started: 2019
Completion date: 2022
Client type: real estate
Main capabilities: cost and commercial management
Creating a workplace fit for the future
The European Bank for Reconstruction and Development required a best-in-class, flexible workspace at Five Bank Street, Canary Wharf, London to house their current and future workforce.
The client had a clear ambition to create a workspace that generated positive social and environmental impact, while reflecting the business’s cultural diversity.
Incorporating social value, collaborating with charities and reducing waste were all central to the design and fit-out of this 369,179 sq ft new office building.
Digital tools for procurement and cost-saving
We worked collaboratively with the full project team, balancing capital expenditures and operating expenses to help deliver a sustainable fit-out for the long term.
We provided extensive cost and commercial management to validate the project budget and advise on design cost limitations early on.
We used industry-leading digital tools, such as our benchmarking app and e-tender software, to establish an optimal procurement route. This saved three months on the project’s delivery timeline and increased the amount of cost certainty during this stage.
A collaborative culture was encouraged on the project. To promote this, client, consultant and contractor '100 days to Practical Completion' commercial workshops were held.
These entailed working together with all parties to reflect on the commercial process up to that point and proposing changes that would support an efficient commercial close out.
Prioritising social value and sustainability
With sustainability being a key priority for the project, recyclable materials were used throughout the design and construction phases.
Joinery was constructed using circular economy initiatives so it could be easily re-used at the end of life, and structural steel alterations were made using existing on-site steel.
Social value was also a key part of the construction phrase, with the project achieving all of the 16 social value key performance indicators. This included the provision of various employment opportunities and collaborating with higher-education institutions and charities to provide work experience.
