Business | Property

British Land secures major pre-let, as property agent JLL commits to new London office

British Land is creating new offices at 1 Broadgate
british land
Joanna Hodgson
8 April 2021

Landlord British Land has agreed a major City office pre-let to property agent JLL, as firms look beyond the Covid-19 crisis at future workspace plans.

The FTSE 100 property developer said JLL has signed a deal for 134,000 square feet for a new flagship UK office at 1 Broadgate.

The tenant is taking three floors on a 15-year lease and will take occupation in 2026.

Commitment to the deal will be welcome amid much debate around the pros of cons of offices, following a year of working from home for many. A number of companies are expected to embrace more flexible working.

Simon Carter, chief executive of British Land said: "The move is a real vote of confidence in London.”

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British Land said the building, which totals 546,000 square feet, will be the most energy efficient development it has ever delivered.

Stephanie Hyde, UK and Ireland chief executive at JLL, said: "Throughout this unprecedented time we have worked closely with clients and our own people to develop and evolve workplace strategies. 1 Broadgate will be central to our plan as we recognise the importance that offices play in collaboration, innovation and fostering culture and wellbeing.”

JLL added that it will retain a “meaningful base” in the West End from 2026 to allow colleagues to work around clients’ needs.

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