Deutsche Bank and Deloitte have agreed terms for new offices in the City and Midtown.
Deutsche is under offer to sublet 53,000 sq ft on three lower floors of the Willis Building at 51 Lime Street, EC3.
Quoting rents on the space are £53.50 per sq ft.
Willis’ lease on the 320,000 sq ft Foster + Partners-designed building expires in 2029, but Deutsche is expected to align its lease with 2023 expiries at its other London offices, including Winchester House, EC2.
Separately, Deloitte has agreed terms with Land Securities to lease the entire 266,000 sq ft 1 New Street Square, EC4, development, which completes next year.
LandSec’s estimated rental value for the scheme is £15.9m pa, or just under £60 per sq ft.
Deloitte has upcoming expiries on offices at Athene Place and Stonecutter Court, both EC4, where it occupies a combined 265,000 sq ft. However, it has yet to confirm whether it plans to vacate either.
The deal comes a fortnight after Deloitte UK senior partner and chief executive David Sproul was re-elected for a second term.
Sproul became senior partner in June 2011 and under his tenure has grown revenue by more than 20% from £2.1bn to £2.6bn. Staff numbers have risen by more than 10% to over 15,000 during the same period.
CBRE and Savills acted for Land Securities; Deloitte Real Estate is advising Deloitte; JLL advises Deutsche; BNP Paribas Real Estate acted for Willis.
