British Land has signed a further three leases for office space at Broadgate.
Totalling 303,000 sq ft across 135 Bishopsgate and 1FA, the lettings are to global advertising giant, McCann Worldgroup UK; TP ICAP, the world’s largest interdealer broker, which is moving from its current home at 1-2 Broadgate; and Mimecast, the UK-founded cybersecurity company, which is taking additional space at 1FA.
McCann Worldgroup is one of the world’s leading marketing services companies and the largest network in the UK. The company has signed a 15 year lease for 148,000 sq ft1 at 135 Bishopsgate, bringing 11 of its London-based agencies into one location for the first time.
TP ICAP, currently located at 1-2 Broadgate, will take 123,000 sq ft across the second, fourth and eleventh floors of 135 Bishopsgate on a 15 year lease.
The moves by McCann Worldgroup UK and TP ICAP will be completed following the refurbishment of 135 Bishopsgate, which will deliver a 334,000 sq ft mixed-use building including 42,000 sq ft of retail space at ground floor level, already let to Eataly.
At 1FA, Mimecast has committed to an additional 34,000 sq ft, having signed for 79,000 sq ft earlier this year. This takes its total space at the building to 113,000 sq ft. As the largest tech deal in the City this year, the expanded letting to Mimecast represents a major seal of approval for Broadgate as a vibrant neighbourhood where innovation and finance play.
British Land has allocated two floors at 1FA to its flexible workspace brand, Storey. Building on Storey’s success at Broadgate since its launch in June 2017, this space will be targeted at existing British Land customers looking for additional, flexible office accommodation and smaller businesses which have outgrown co-working space
In the last 12 months, British Land has transformed the profile of Broadgate’s occupier base with a raft of new customers across its retail, leisure and office space. These include Italian marketplace Eataly’s first UK location, boutique cinema operator Everyman, tech and creative businesses Onfido, Tessian, Neyber and Publica, as well as Japanese bank SMBC at 100 Liverpool Street, demonstrating the campus’ enduring appeal to the financial sector.
Mark Lund, CEO, McCann Worldgroup UK, commented: “We’re delighted to be bringing the McCann Worldgroup UK family together under one roof. Our stunning new London home at Bishopsgate will provide us with the opportunity to grow individually and as a network, while the building’s location at the intersection of Shoreditch, Spitalfields and The City will connect us to some of the most important creative, tech and historic hubs that London has to offer.”
Tim Roberts, Head of Offices, British Land added: “McCann Worldgroup UK is a highly successful and renowned global business, underpinned by its creativity. Alongside TP ICAP’s decision to remain at the campus and Mimecast’s take-up of additional space of 1FA, McCann Worldgroup UK’s move to Broadgate is a firm endorsement of the vibrant campus environment we are creating here for all types of occupier – high quality workspaces in a terrific location, surrounded by some of London’s best talent and with an eclectic choice of places to spend time throughout the day and into the evening.
“With over 50% let or under offer, I am pleased to say that both the quality of our developments at Broadgate and our campus strategy are striking a chord with our customers. We are seeing encouraging levels of interest, especially in the 90,000 sq ft of retail space which we have recently started to market at 100 Liverpool Street.”
1McCann have an option not to take 21,000 sq ft of Level 9, which must be exercised by December 2018.
Italian marketplace Eataly will open its first UK location at Broadgate’s 135 Bishopsgate in 2020, reports British Land.
Eataly has signed an agreement for lease for 42,000 sq ft on the ground and first floors of the building.
Eataly’s original idea is very simple: to gather all the high-quality Italian foods under one roof, where you can eat, shop and learn. With a selection of the best Italian products, restaurants, bars, quick services, exciting on-site production laboratories, and a cooking school, Eataly will add to the already popular restaurant and bar offering at Broadgate, bringing many opportunities to learn about Italian food and culture through courses, guided tastings, demonstrations and special events.
The letting marks yet another positive step in Broadgate’s evolution into a mixed-use neighbourhood for London, and sets the tone for the world-class retail destination that British Land is delivering at the campus.
135 Bishopsgate’s refurbishment is part of British Land’s wider focus on enhancing the environment for Broadgate’s workers and visitors and attracting businesses from a range of sectors to the campus. The upgraded building will deliver high-quality office space for occupiers, who will benefit from a roof terrace with views over London, as well as an in-house catering offer and a café, both provided by Eataly. British Land is making significant improvements to the public realm on Bishopsgate, one of London’s busiest streets.
Eataly’s marketplace will be accessible from both Bishopsgate and Broadgate’s Exchange Square which is due to be transformed into a new park for the campus. These additional entrances will significantly improve the campus’ permeability and its connections with the lively surrounding areas of Spitalfields and Shoreditch.
Claire Barber, Head of Central London Retail and Meadowhall, British Land commented: “Eataly’s decision to take space at Broadgate is a fantastic endorsement of British Land’s strategy to create a vibrant, world-class neighbourhood at the campus.
“Along with arrival of the Elizabeth Line at 100 Liverpool Street this year, and the high-quality retail space due to open at 100 Liverpool Street in 2019, Eataly will really put Broadgate on the map as an exciting destination for Londoners to enjoy seven days a week.”
Luca Baffigo, CEO, Eataly added: “Visiting Borough Market before opening our first Eataly in Italy was a source of great inspiration for our concept. This is why opening a place in London where people can buy, eat and learn is a very important and exciting milestone for us. Being able to bring our model into a place that is so significant for us fills us with satisfaction and stimulates us to create in London a wonderful multifunctional experience.”
This letting is the most recent in a series of commitments from a range of occupiers at Broadgate, including cybersecurity and data management company Mimecast, which is taking 79,000 sq ft at 1FA (currently undergoing a major refurbishment), and Japanese bank SMBCE which is taking 161,000 sq ft at 100 Liverpool Street.
For more information on Broadgate, visit www.broadgate.co.uk.