British Land has signed 34 new deals totalling 238,000 sq ft across its central London campuses, with lettings 6% ahead of ERV.

Since the half year results, nine businesses have signed 125,000 sq ft at newly refurbished buildings at Broadgate. New occupiers include customer engagement platform, Braze (49,000 sq ft, Exchange House); proprietary trading firm, Maven Securities (38,000 sq ft, 155 Bishopsgate); US-based law firm, Jenner & Block LLP (13,000 sq ft, 10 Exchange Square) and markets’ infrastructure and technology platform, Symphony (7,000 sq ft, 135 Bishopsgate).

In addition, 14 Storey deals totalling 47,000 sq ft have been signed to a range of tech, financial and life sciences businesses, as demand for flexible workspace continues. At Paddington, new customers include mapping, location data and related automotive services provider, HERE Technologies and life sciences business, e-Therepeutics, and at Broadgate, online signature service, Docusign and AI fraud technology provider, Featurespace.

Additional deals completed within the period include 20,000 sq ft to quantitative trading firm, Hudson River Trading at 100 Liverpool Street, where the office space is now fully let, and 46,000 sq ft at Regent’s Place and Paddington.  

Darren Richards, Head of Real Estate at British Land, said: “As companies consider future ways of working, demand is focussed on the very best space, with an emphasis on sustainability, wellness, shared and flexible space and excellent transport connections. Our London campuses deliver this and as a result, we’re seeing excellent leasing activity to innovative businesses in growth sectors, at rents ahead of ERV.

“These lettings build on our success in the first half where we saw the busiest period for office leasing in a decade, in addition to effectively fully pre-letting 1 Broadgate four years ahead of completion.”

This follows record leasing volumes in the first half, where 819,000 sq ft of deals were signed including to Facebook (315,000 sq ft, 1 Triton Square) and JLL (129,000 sq ft, 1 Broadgate), with a further pre-let to Allen & Overy post period end (254,000 sq ft, 1 Broadgate). This brings total office deals signed this year to 1.3 million sq ft.

ENDS

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About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & Fulfilment assets throughout the UK. We own or manage a portfolio valued at £13.3bn (British Land share: £9.8bn) as at 30 September 2021 making us one of Europe’s largest listed real estate investment companies.

We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & Fulfilment.

Our three Campuses at Broadgate, Paddington Central and Regent’s Place are dynamic neighbourhoods, attracting growth customers and sectors, and offering some of the best connected, highest quality and most sustainable space in London. We are delivering our fourth Campus at Canada Water, where we have planning consent to deliver 5m sq ft of residential, commercial, retail and community space over 53 acres. Our Campuses account for 70% of our portfolio.

Retail & Fulfilment accounts for 30% of the portfolio and is focused on retail parks which are aligned to the growth of convenience, online and last mile fulfilment. We are complementing this with urban logistics primarily in London, focused on development-led opportunities.

Sustainability is embedded throughout our business. In 2020, we set out our sustainability strategy which focuses on two time-critical areas where British Land can create the most benefit: making our whole portfolio net zero carbon by 2030, and partnering to grow social value and wellbeing in the communities where we operate.

Further details can be found on the British Land website at www.britishland.com