British Land and Blackstone have announced that global law firm Hill Dickinson has agreed to let 32,000 sq ft of office space at the Broadgate Tower. The firm has agreed a ten year lease and are set to occupy levels six, seven and part of level eight of the 33-storey tower located in the heart of London’s financial district.
Headline rents for the deal are £43.50 per sq ft on levels six and seven, and £47.50 per sq ft on level eight. Hill Dickinson also has the option to acquire the remaining 5,400 sq ft of office space on level eight.
The new letting means that the Broadgate Tower is now approximately 92% occupied, leaving just over 34,000 sq ft of vacant space remaining. Overall occupancy at Broadgate is 94.7%. The 35-storey 397,000 sq ft Broadgate Tower is the City’s fourth tallest building rising to a height of 165m (540 ft) and offering stunning views across the London skyline.
Tim Roberts, Head of Offices at British Land said: “These lettings continue to show British Land’s ability to provide quality buildings that modern businesses want to occupy and is why our portfolio lets so well. Broadgate’s ability to attract firms of the calibre of Hill Dickinson reinforces its position as the premier office estate in the City, offering an appealing mix of first class office space and excellent on site amenities and services."
CBRE advised Hill Dickinson in the transaction, while Jones Lang LaSalle and Knight Frank acted on behalf of British Land and Blackstone.
21/11/2012 15:19 by Buildington
Brazilian banking group Banco Itau, which has agreed to lease an additional 12,000 sq ft of office space at level 19 of The Broadgate Tower. It is taking a 8.75 year term at £54.50 per sq ft with 22 months’ rent free. Banco Itau moved into the Broadgate Tower in December 2010, originally letting 13,000 sq ft at level 20 of the building.
Japanese trading company Itochu, which has also agreed to take an additional 6,000 sq ft of space at The Broadgate Tower. The letting, at level 18 of the tower, is at a headline rent of £62.50, with 18 months’ rent free for a term until December 2020. Itochu moved into the Broadgate Tower in November 2010, originally letting 26,000 sq ft across levels 15 and 16.
Tim Roberts, Head of Offices at British Land, said: "These deals demonstrate how we are working with our existing occupiers to help them consolidate and grow in challenging conditions. We are delighted that long-standing and key customers, Herbert Smith and F&C, are committing to Broadgate for the longer term. The lettings by Banco Itau and Itochu are also a positive example that international corporates are keen to expand their presence at Broadgate, taking advantage of the high quality office space and first class amenities and services on offer.”
The 35-storey 397,000 sq ft Broadgate Tower is the City’s fourth tallest building rising to a height of 165m (540 ft). Its current occupiers include Reed Smith LLP, Greenlight, and William Blair.
19/08/2012 14:18 by Buildington