Metro Bank is in advanced talks to take 150,000 sq ft at Schroders’ and Stanhope’s Ruskin Square in what would be one of the largest Croydon office lettings on record.
The bank is close to agreeing a deal for the majority of the 180,000 sq ft first phase at the 2.5m sq ft scheme, where quoting rents are £35 per sq ft.
Metro became the first new high street bank to launch in Britain for 150 years when it began trading in 2010.
Its first branch opened in Holborn, WC1, five years ago and it now trades from more than 30 branches nationwide.
The Croydon letting will serve as the rapidly expanding bank’s new headquarters, in a move from the Holborn branch.
Ruskin Square will comprise 625 homes, 100,000 sq ft of shops, cafes and restaurants and 1.2m sq ft of offices.
Lend Lease was recently appointed as the contractor for the first phase of the scheme. But work has yet to begin on site and a completion date has not been announced.
The £500m Ruskin Square scheme has kick-started the large-scale regeneration of Croydon.
A new office development is scheduled for the College Green area and Westfield and Hammerson plan to build a new shopping centre near the train station.
AIG and an as yet unnamed government department have also begun searching for a large tranche of office space in the area.
Savills and JLL are joint agents on the Ruskin Square scheme. Savills is acting for Metro Bank.
