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BL signs Sumitomo Mitsui for 161,000 sq ft in Broadgate

By Paul Norman - Tuesday, February 13, 2018 8:15

British Land has signed an agreement for lease with Sumitomo Mitsui Banking Corporation Europe for 161,000 sq ft at the 100 Liverpool Street redevelopment at Broadgate.

SMBCE, a subsidiary of Sumitomo Mitsui Banking Corporation, one of Japan’s leading banks, will take the first three floors of the building on a 20 year lease.

British Land committed to the 520,000 sq ft speculative redevelopment of 100 Liverpool Street at the end of 2016.

Located at the gateway to the campus and adjacent to Liverpool Street’s Elizabeth Line station entrance, this redevelopment rejuvenates Broadgate’s interaction with one of London’s busiest transport hubs.

90,000 sq ft of the building will be dedicated to retail, restaurants, cafés and bars which, together with other current developments, will double the retail offer at Broadgate by 2020. BL said the redevelopment is a major milestone in Broadgate’s evolution into a world class, mixed-use destination for London.

SMBCE’s letting represents 37% of 100 Liverpool Street’s office space. The remaining 5 upper floors range from 20,000 to 60,000 sq ft, each with terraces of up to 10,000 sq ft with views across London.

Tim Roberts, Head of Offices, British Land said: “SMBCE’s decision to invest in Broadgate for the long term is not only a strong endorsement of London as a global city which remains attractive to international organisations as a place to do business, but of the wider campus and 100 Liverpool Street.

“This building will be a new benchmark for London offices. With its innovative design, high quality office space and significant retail and food & beverage offer, as well as being the smartest, best connected building in London, 100 Liverpool Street will be instrumental in Broadgate’s evolution into a world class, seven day a week destination. The building is an excellent example of how we add value through investing in our existing buildings and the spaces between them.”

The letting to SMBCE is the most recent in a series of commitments from across a range of occupiers at Broadgate, including cyber security and data management company Mimecast, which is taking 79,000 sq ft at 1 FA (currently undergoing a major refurbishment).

At 2FA, a hub of smaller, innovativ is developing.

British Land said its Storey flexible workspace brand is proving popular at 2FA, and Starling Bank and Innovate Finance have also recently taken space in the building.

JLL and CBRE advise British Land at 100 Liverpool Street.

pnorman@costar.co.uk

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