European real estate investor Edge, together with Mitsubishi Estate London, have partnered with a consortium of Japanese equity investors, including Tokyo Tatemono, Toko Electrical Construction and Fuyo General Lease, to fund the EDGE Shaftesbury office development in London.
Development financing has also been secured from Sumitomo Mitsui Trust Bank (SMTB).
Developer Edge said the new funding commitments would enable the project to proceed on a speculative basis early this year, reflecting the joint venture’s confidence in sustainable office schemes in the Central London market.
It said that limited new office supply and robust demand for high-quality workspace meant the project was well positioned to respond to current market dynamics.
Plans for the transformation of the existing 1980s block were approved by Camden Council’s planning committee in April 2025. The project will increase the building’s height from 11 to 13 floors and provide 250,000sqft of “high-quality modern workspace, including workspace at the ground level, rooftop terraces, best-in-class end-of-trip facilities and cycle parking”, Edge said.
The company added that a redesigned entrance on Charing Cross Road, public realm improvements and an increase in the number of active ground-floor frontages around the building will “renliven the surrounding area”.
Fons van Dorst, executive managing director UK at Edge, said: “Securing this funding marks an important moment for EDGE Shaftesbury and for our partnership with Mitsubishi Estate London. This project will bring new life to a key part of the West End while setting a high bar for sustainable, future-focused workspaces.
“We are pleased to move into the delivery phase and look forward to creating a building that serves its occupiers, its neighbours and the wider city for many years to come.”
Shinichi Kagitomi, chief executive of Mitsubishi Estate London, said: “We are pleased to be working alongside a group of well-respected investors to deliver a flagship office scheme in this under-served market. With start-of-works now imminent, we look forward to progressing the project and advancing our discussions with prospective occupiers”.
Tokyo Tatemono’s managing executive officer Fumio Tajima said: “This milestone marks Tokyo Tatemono’s entry into the UK, and we are committed to leveraging this opportunity to create long-term value and set new standards for environmentally responsible urban development.”
Sohail Nassiri, head of European real estate finance at Sumitomo Mitsui Trust Bank, said: “We are thrilled to continue supporting our relationship with Mitsubishi Estate London, and to embark on a new relationship with Edge by providing this important £360m [€415m] sole arranger financing. EDGE Shaftesbury will deliver a sustainable, high-specification workspace building, positively impacting the community and the built environment. We remain committed to partnering on such schemes.”
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