ING Bank takes 12,000 m2 pre-let at London's Moorgate

ING Bank has entered into a lease agreement in Mitsui Fudosan and Stanhope’s new eight-storey development in London’s Bank Conservation Area.

Under the agreement, ING will relocate its UK Commercial Banking business to the £95 mln development and will be the sole occupier of the prime, central office space at 8-10 Moorgate. In total, it will take the full 130,000 sq ft (12,000 m2) of office space on an 18-year lease.

Working alongside Stanhope, Mitsui Fudosan started to redevelop the site in January 2013 and is on schedule for completion in May 2014. The new development has been designed by architects Allies & Morrison and is on target to achieve a BREEAM Excellent environmental rating.

'This letting reflects the substantial demand for quality, prime office space in the City. Over the past months we have been able to secure a number of high-profile leases across our central London portfolio, confirming the strength of our investment strategy,' said Hideto Yamada, managing director of Mitsui Fudosan.

ING Bank was advised by Jones Lang LaSalle, while DTZ and Jones Lang LaSalle acted for Mitsui Fudosan and Stanhope.

Mitsui Fudosan has a new 175-year head lease and development agreement with 8-10 Moorgate freeholder The Clothworkers’ Company.