Railpen secures planning approval for 122,000 sq ft Smithfield office redevelopment
- constructnetuk
- Jul 19
- 2 min read
Railpen has secured planning permission for the redevelopment of 12 Smithfield, bringing forward a 122,000 sq ft office-led scheme overlooking Smithfield Market in the City of London.
The investment manager, which manages the £34bn Railways Pension Scheme, plans to transform the existing building into a next-generation headquarters development, with completion targeted for Q4 2028.
Designed by Henley Halebrown, the scheme will retain and upgrade much of the existing structure while introducing a new façade, expanded public realm and modern workplace accommodation. The project is targeting BREEAM Outstanding, EPC A, WELL Core Platinum, NABERS UK 5-Star and Net Zero Carbon in Operation, placing sustainability and structural reuse at the heart of the development.
The approved plans include office floorplates of up to 20,000 sq ft across five levels, together with more than 9,400 sq ft of private terraces and a rooftop garden. Around 11,400 sq ft of retail, café and amenity space will also be delivered at ground level.
Located less than five minutes from Farringdon Station and the Elizabeth Line, the development sits opposite the historic Smithfield Market and the future London Museum, which is due to open in 2028. Railpen said the wider area is benefiting from around £400m of investment as Smithfield continues its transformation into a major commercial and cultural destination.
Emily Atkinson, UK Offices Sector Lead at Railpen, said the consent marked an important milestone in the company’s long-term investment strategy, adding that the redevelopment would deliver high-quality headquarters space designed to meet growing demand from a wide range of occupiers.
Railpen has appointed JLL and Newmark to market the development, which forms part of its wider office investment strategy across London, Birmingham and Cambridge.
