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Zig Zag Building development site in March 2014. Kings Gate construction at the back.

Zig Zag Building development site in March 2014. Kings Gate construction at the back.

March 5, 2014
Screen capture of Zig Zag Building in Land Securuties' Interims 2012 results presentation

Screen capture of Zig Zag Building in Land Securuties' Interims 2012 results presentation

November 2012

Zig Zag Building

Address:
70 Victoria Street, London SW1E 6SQ
Type:
Commercial
Completion:
July 2015
Area:
234,000 sq ft
Viewed:
15572

Description of Zig Zag Building

Zig Zag Building is a new 234,000 sq ft commercial building in Victoria, London SW1.

- 188,000 sq ft office
- 45,000 sq ft retail

- Demolition started April 2012
- Two buildings with enhanced public realm and placemaking
- £343m TDC
- Completed in 2015

Businesses in the building:
- Deutsche Bank - 6 floors or 92,000 sq ft on a 15-year lease signed in November 2015.
- Moneycorp - 5th floor let for 10 years, lease signed in January 2016.

Source: www.createvictoria.com/office/the-zig-zag-building November 2012

Connected Companies

Developer:
Lettings:
Architect:

News: (10)

The Zig Zag Building is now 95% let.

Source: Land Securities Group PLC Half-yearly results for the six months ended 30 September 2017. Published 14.11.2017.

15/11/2017 09:17 by Buildington

Land Securities has let the 5th floor of The Zig Zag Building on a 10 year income lease to moneycorp, the UK’s leading foreign exchange and international payments specialist, demonstrating once again the appeal of Victoria to businesses from across London.

Moneycorp follows in the footsteps of global headhunter Egon Zehnder which is moving from a traditional Mayfair location to Nova, Victoria, and Deutsche Bank, which recently decided to relocate its Asset Management and Private Wealth Management divisions to The Zig Zag Building to be closer to its clients.

The Zig Zag Building, which reached practical completion in November, is the latest building in Land Securities’ transformation of Victoria. The offices are now 89% let with only the sixth floor available comprising 22,000 sq ft with stunning views across the Royal Parks and a private roof terrace.

Designed by Patrick Lynch, the building totals 188,000 sq ft of office space over 11 office floors. Ground level is host to modern tapas bar Iberica and Jamie’s Italian, both with al fresco seating, as well as M Restaurants, which includes a wine store, landmark restaurant and private members club.

Kaela Fenn-Smith, Head of Commercial at Land Securities, said:

“We are delighted that moneycorp has chosen to move to Victoria from Knightsbridge. Their decision to relocate cements the emergence of Victoria as a new hub for the financial services sector. We are proud that our commitment to place-making and the rejuvenation of Victoria has transformed the area into a first choice destination for a plethora of global, financial businesses.”

Nick Haslehurst, CFOO at moneycorp, said:

“We look forward to the next phase of our company’s development in establishing our global headquarters in Victoria. After much consideration we are pleased to announce this move which provides us with capacity for future growth in a high quality location.”

Knight Frank and Cushman & Wakefield advised Land Securities and BNP Paribas advised moneycorp.

07/01/2016 08:50 by Buildington

Deutsche Bank has pre-let 92,000 sq ft at The Zig Zag Building on a 15-year lease, reports Land Securities.

Deutsche Bank will relocate its Asset Management and Private Wealth Management units from their current City locations to Victoria, taking The Zig Zag Building from 37% to 77% pre-let.

Kaela Fenn-Smith, Head of Commercial at Land Securities, said:

“We are thrilled that Deutsche Bank has chosen to move its Asset Management and Private Wealth Management units to Victoria. Deutsche Bank’s decision is testament to our product and our transformation of Victoria.

“Our significant and carefully curated development programme has created a sought-after destination for businesses looking for not just the very best office space tailored to their specific needs, but also vibrant surroundings with quality hotels, restaurants and shops. Open outdoor spaces both in and around our buildings as well as within London’s finest Royal Parks add to the appeal of Victoria for employees and clients alike.
This letting to a leading global bank is just the latest example of how Victoria is becoming the location of choice for financial services businesses who want to be closer to their customers.”

Deutsche Bank is taking 6 floors in the building, which has been designed to help businesses attract and retain the best talent by putting employee health and well-being at its heart.

Deutsche Bank will join Jupiter Asset Management, Mediobanca and Egon Zehnder who have also recently embraced Victoria as their home.

13/11/2015 09:34 by Buildington

The Zig Zag Building is currently 37% pre-let.

Source: Land Securities First Quarter Interim Management Statement 22.07.2015

22/07/2015 11:09 by Buildington

35% of Zig Zag Building is pre-let with average appraisal rent £73 psf. Two of the five retail units have been let to Mango and Iberica.

- Land Securities Half-yearly results for the six months ended 30 September 2014 www.landsecurities.com 11.11.2014

11/11/2014 19:42 by Buildington

Land Securities has secured its first office letting at the Zig Zag Building as leading fund group Jupiter Asset Management has taken 56,000 sq ft on a 20 year lease. The deal means the office space is 28% let more than 10 months ahead of practical completion.

The Zig Zag Building is also known as ‘The Thoughtful Building’ because of its occupier-focused design. Interior space will be naturally lit from this island site. Tenants will have access to a concierge service, private terraces, bike storage, high end showers and a large communal roof terrace offering exceptional views and green space. Designed by Lynch Architects, the building steps back along Victoria Street, creating a unique zigzag effect. As well as creating unique spaces on the floors, this design will see the creation of new public realm as well as more space for pedestrians along Victoria Street.

Retail will also be key to the development, with Mango due to open a 12,000 sq ft flagship store, and tapas restaurant Iberica taking a 5,000 sq ft unit on the ground floor. In addition Jamie Oliver has taken 8,000 sq ft at the neighbouring Kings Gate luxury residential and retail development.

Kaela Fenn-Smith, Head of Commercial at Land Securities, said:

Maarten Slenderbroek, Chief Executive Officer at Jupiter, said:

“We are very pleased that The Zig Zag Building will become our new permanent London office and global headquarters in 2015. This was a carefully considered choice which fits with all of the strategic objectives set out when we began the process of search and selection for a new location. This is also a particularly important decision from our employees’ perspective and we feel that The Zig Zag Building has many positive attributes, located in a regenerated area that has excellent transport links and local facilities. Its environmental credentials and prosimity to St James Park were also influential factors in our decision-making process.”

Knight Frank, Cushman & Wakefield and JLL advised Land Securities, Simon Garfield advised Jupiter.

Source: Land Securities www.landsecurities.com

26/09/2014 17:24 by Buildington

The Zig Zag Building in Victoria is 7% pre-let with a further 28% in solicitors’ hands.

Source: 2014 First Quarter Interim Management Statement, Land Securities.

19/07/2014 11:20 by Buildington

Cushman & Wakefield has been appointed joint leasing agent alongside Knight Frank, on The Zig Zag Building being developed by Land Securities plc.

The Zig Zag Building, due to be delivered in early 2015, will be one of two buildings to replace the former Kingsgate House on Victoria Street. Designed by Patrick Lynch, The Zig Zag Building will offer 190,000 sq ft of stunning new office space, with multiple roof terraces. Situated next to Westminster City Hall, The Zig Zag Building and neighbouring Kings Gate residential apartments are the latest developments in Land Securities' £2 billion transformation of Victoria, and will join the beautifully designed apartments at Wellington House and landmark commercial buildings 62 Buckingham Gate and 123 Victoria Street in making the area a stylish place to work, live and enjoy.

Andy Tyler, Partner, West End Agency at Cushman &Wakefield said: "The Zig Zag Building will be an innovative landmark building with occupiers able to choose their preferred type of cooling system. This USP will have broad appeal to occupiers across a host of different sectors and we are delighted to be on board as leasing agents on behalf of Land Securities."

Kaela Fenn-Smith, Head of Leasing at Land Securities, said: "We are very pleased to appoint Cushman & Wakefield alongside Knight Frank. Their invaluable occupier insight and breadth of contacts will help us ensure the success of this landmark building as integral element of the ongoing renaissance of Victoria."

Source: Cushman & Wakefield 18.02.2013

27/02/2013 10:24 by Buildington

Construction of two new developments will start this month on Victoria Street. The £350m scheme comprises The Zig Zag Building, a 17,450 sq m office building over 12 floors, and Kings Gate, a 14 storey building comprising 100 residential apartments. Both buildings will provide a new enhanced retail and leisure offer with 4,150 sq m of space. The estimated completion of the buildings is January 2015.

Source: Land Securities Half Yearly Report 2012

19/02/2013 11:49 by Buildington

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08/11/2012 20:33 by Buildington

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