West African HQ for Standard Chartered Bank

Accra, Ghana

A development by Osborne+Co, successfully delivering a new purpose-built West African headquarters for Standard Chartered Bank (SCB) in Accra, Ghana.

  • The Standard Chartered Tower Project in Accra was created as a result of a uniquely successful collaboration between the Bank and Osborne+Co, which mirrored the hugely successful experience of delivering the Standard Chartered Tower in Dubai
  • Standard Chartered has stated that this model of delivery will be the basis on which they will engage with developers in the future
  • Based on the experience in Dubai, Osborne+Co was invited to participate in the process and was selected as the developer to deliver a new Head Office building in Accra
  • The process began with an RFP where bidders were invited to propose the development on a site owned by the bank as well as any additional site the bidder felt was suitable. Osborne+Co’s bid focused only on developing the owned site, known as ‘Clubhouse’

The RFP content was greatly informed by the successful experience in Dubai with Osborne+Co. The RFP featured the building in Dubai’s floor plate as an example of a preferred floor plate and the tender documents requested the building be delivered fully fitted, as per the Dubai building. Further, the workplace and engineering specifications in the RFP were based on the final product in Dubai.

Project summary

GDV: US$80m

Sector or building type: Build-to-suit commercial headquarters

Total sq footage: 452,300 ft2

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Highlights

  • Osborne+Co spent significant time in Ghana identifying contracting solutions and meeting with the consultants responsible for executing the RFP process
  • Following final presentations to the business in Accra at the existing Head Office, Osborne+Co was selected as the preferred developer
  • The Agreement for Lease is based on Osborne+Co delivering to all of Standard Chartered’s Global Engineering Standards and Workplace standards
  • The Agreement is predicated on Standard Chartered having full participation and final right of approval over all design and specifications
  • The agreement is based on Standard Chartered having zero capital spend or contribution with the exception of active equipment and artwork

Development

  • The building construction started on site in April 2016, following a ground-breaking ceremony that was attended by the full executive board of Standard Chartered Bank Ltd
  • The building is the first arms-length, fully fitted development deal in Sub-Saharan Africa, with the exception of South Africa. It was also the first instance in West Africa of a global bank working with a developer to deliver a fully fitted building on a pre-let basis for a single rental figure
  • Osborne+Co is proud that the new Standard Chartered Tower in Accra is one of the most highly specified and high-quality office building in West Africa

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