ICE Council this week approved a full refurbishment of the ICE’s new offices at 8 Storeys Gate at a cost of £5.2M.
Council opted for the most extensive of three options after independent analysis found the full refurbishment presented the best financial case for long-term investment and would achieve net benefit by year three.
The ICE bought the Storeys Gate building in Westminster last year with the proceeds from the sale of the former Thomas Telford office building at Heron Quay.
Employees currently located in three separate buildings - Marsh Wall, the Institution of Mechanical Engineers in Birdcage Walk, and One Great George Street - will move into the new offices once they been refurbished.
The vision is to encourage crossfunctional working and improve operational efficiency by moving the majority of ICE and Thomas Telford employees into one, fit for purpose, office.
The refurbishment will be partly funded by a mortgage of £4M, the repayments of which will be covered by the rent paid by Thomas Telford for the new office space, and partly by the sale of other investments. This means the full refurbishment can be achieved at virtually no cost to the Institution or members.
It was also raised that the issue needed to be effectively communicated to members to alleviate misperceptions about how the refurbishment would be funded. ICE president Paul Jowitt confirmed that this was an utmost priority.
“Communication with the membership is at the forefront of my mind,” said ICE president Paul Jowitt, adding that there was a communications strategy in place for getting the correct messages out to members.