Last month the Government Property Agency (the GPA) closed the doors at 1 Victoria Street in London - a major step forward in consolidating the government office estate and reducing the number of buildings in central London.
The previous clients from the Department for Business, Energy and Industrial Strategy (BEIS) - now the Department for Energy Security and Net Zero (DESNZ), Department for Science, Innovation and Technology (DSIT) and Department for Business and Trade (DBT) - will be relocated to Hub redevelopments at 3-8 Whitehall Place, 55 Whitehall and 22-26 Whitehall, along with other sites in Whitehall.
The closure of this c.30,000 square metre building will generate substantial savings of approximately £30m in annual running costs and a c.£300m 20-year Net Present Value (NPV).