British Land has signed an agreement for lease with Sumitomo Mitsui Banking Corporation Europe Limited (“SMBCE”) for 161,000 ft² 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 ft² speculative redevelopment of 100 Liverpool Street at the end of 2016, recognising the building’s potential appeal to a diverse range of occupiers looking for high quality, yet flexible, office space within the unique, vibrant Broadgate campus environment.
Located at the gateway to the campus and adjacent to Liverpool Street’s Elizabeth Line station entrance, this redevelopment transforms Broadgate’s interaction with one of London’s busiest transport hubs. 90,000 ft² 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. 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 ft², each with terraces of up to 10,000 ft² 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.”