Over 300,000 sq ft of new office lettings secured at Broadgate

Over 300,000 sq ft of new office lettings secured at Broadgate

Reflecting strong demand from a diverse range of occupiers for its unique campus offering, British Land has signed a further three leases for office space at Broadgate. Totalling 303,000 sq ft across 135 Bishopsgate and 1FA, the lettings are to global advertising giant, McCann Worldgroup UK; TP ICAP, the world’s largest interdealer broker, which is moving from its current home at 1-2 Broadgate; and Mimecast, the UK-founded cybersecurity company, which is taking additional space at 1FA.

  • McCann Worldgroup is one of the world’s leading marketing services companies and the largest network in the UK. The company has signed a 15 year lease for 148,000 sq ft* at 135 Bishopsgate, bringing 11 of its London-based agencies into one location for the first time
  • TP ICAP, currently located at 1-2 Broadgate, will take 123,000 sq ft across the second, fourth and eleventh floors of 135 Bishopsgate on a 15 year lease
  • The moves by McCann Worldgroup UK and TP ICAP will be completed following the refurbishment of 135 Bishopsgate, which will deliver a 334,000 sq ft mixed-use building including 42,000 sq ft of retail space at ground floor level, already let to Eataly
  • At 1FA, Mimecast has committed to an additional 34,000 sq ft, having signed for 79,000 sq ft earlier this year. This takes its total space at the building to 113,000 sq ft. As the largest tech deal in the City this year, the expanded letting to Mimecast represents a major seal of approval for Broadgate as a vibrant neighbourhood where innovation and finance play
  • British Land has allocated two floors at 1FA to its flexible workspace brand, Storey. Building on Storey’s success at Broadgate since its launch in June 2017, this space will be targeted at existing British Land customers looking for additional, flexible office accommodation and smaller businesses which have outgrown co-working space

In the last 12 months, British Land has transformed the profile of Broadgate’s occupier base with a raft of new customers across its retail, leisure and office space. These include Italian marketplace Eataly’s first UK location, boutique cinema operator Everyman, tech and creative businesses Onfido, Tessian, Neyber and Publica, as well as Japanese bank SMBC at 100 Liverpool Street, demonstrating the campus’ enduring appeal to the financial sector.

Mark Lund, CEO, McCann Worldgroup UK, said: “We’re delighted to be bringing the McCann Worldgroup UK family together under one roof. Our stunning new London home at Bishopsgate will provide us with the opportunity to grow individually and as a network, while the building’s location at the intersection of Shoreditch, Spitalfields and The City will connect us to some of the most important creative, tech and historic hubs that London has to offer.”

Tim Roberts, Head of Offices, British Land said: “McCann Worldgroup UK is a highly successful and renowned global business, underpinned by its creativity. Alongside TP ICAP’s decision to remain at the campus and Mimecast’s take up of additional space of 1FA, McCann Worldgroup UK’s move to Broadgate is a firm endorsement of the vibrant campus environment we are creating here for all types of occupier – high quality workspaces in a terrific location, surrounded by some of London’s best talent and with an eclectic choice of places to spend time throughout the day and into the evening.

“With over 50% let or under offer, I am pleased to say that both the quality of our developments at Broadgate and our campus strategy are striking a chord with our customers. We are seeing encouraging levels of interest, especially in the 90,000 sq ft of retail space which we have recently started to market at 100 Liverpool Street.”

British Land is seeing demand from a wider mix of occupiers at Broadgate as the momentum behind the campus’ evolution accelerates. These businesses are attracted to its location, adjacent to the creative and tech-focused communities of Spitalfields, Shoreditch and Old Street and the financial hub of the City; its campus environment, where British Land is delivering great spaces both inside and outside the buildings; and its excellent connectivity which is set to improve further with the arrival of the Elizabeth Line at Liverpool Street in 2019.

*McCann have an option not to take 21,000 sq ft of Level 9, which must be exercised by December 2018.

Source of information

British Land & Profibusiness.world

Date

31 October 2018

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