Henderson Group plc and British Land have exchanged contracts for a pre-letting of 11,500 m[sup]2[/sup] at British Land's 201 Bishopsgate development in the City of London. Henderson will be entering into new 20.5 year leases with an option to extend for a further five years.
Henderson Group plc and British Land have exchanged contracts for a pre-letting of 11,500 m2 at British Land's 201 Bishopsgate development in the City of London. Henderson will be entering into new 20.5 year leases with an option to extend for a further five years.
201 Bishopsgate, along with the adjoining Broadgate Tower, is one of two new buildings that form the latest phase of Broadgate providing some 76,000 m2 new accommodation. A further 21,000 m2 at 201 Bishopsgate is already under offer to solicitors, Mayer Brown Rowe & Maw. Given the space Mayer Brown and Henderson have options, 201 Bishopsgate is 100% let and under offer.
Henderson will relocate from its existing headquarters at 4 Broadgate and as part of the transaction British Land is taking an early surrender of the current lease. Surrender will coincide with Henderson occupying its new head office accommodation which is likely to be late 2008.
Following surrender, British Land is proposing to develop a significantly larger office building on the site at 4 Broadgate. Design work is being progressed and a planning application is expected by mid 2008. This is the first stage of unlocking future redevelopment potential at Broadgate under the Broadgate 2020 master planning exercise. British Land’s letting agents are Jones Lang LaSalle and Knight Frank.
