Funding green light for Midgard’s £60m overhaul of City office

Developer Castleforge has said work deal to refurbish and extend the grade II-listed 1 Golden Lane near the Barbican on the edge of the City can begin in earnest after inking an investment deal to bankroll the job.

The scheme, now called Uno, is being backed by a £115m deal from investors Cheyne Capital and Appollo.

Main contractor Midgard, owned by JRL, began work on site in August but Castleforge has confirmed that funding for the £60m construction contract is now in place with the job set to finish in the first quarter of 2026.

Work will reuse over 20 tonnes of original steel from the site and include 7,000 sq ft of terraces, 4,000 sq ft of communal workspaces and an additional three levels.

In all, the scheme will run across 120,000 sq ft of grade A space, Castleforge, which bought the site three years ago, added.

The revamp has been designed by Hawkins Brown with project manager and cost consultant Gardiner & Theobald.

Others working on this scheme include structures consultant London Structures Lab, M&E consultant Leading Services Design and sustainability and energy consultant Arup.

Castleforge, along with and Malaysian construction and property company Gamuda Group, is also behind the revamp of 75 London Wall – the former headquarters of Deutsche Bank.

The overhaul is due to be carried out by Multiplex with scaffolding now going up at the site, also known as Winchester House, after the last of Deutsche Bank’s staff moved to their new office at 21 Moorfields earlier this year.