Cloud services provider Mimecast has placed around 80,000 sq ft under offer at British Land’s 1 Finsbury Avenue, EC2.
The deal represents the first letting at the 288,000 sq ft office-led refurbishment at Broadgate, where British Land and GIC are creating a 32-acre mixed-use City campus.
It is understood Mimecast will pay more than £50 per sq ft for the workspace, which is due to complete in late 2018.
The company is currently based in 40,427 sq ft at Brookfield’s CityPoint Tower, EC2, where it pays £32.50 per sq ft on a lease expiring in 2025 with a break in 2020.
British Land and GIC received planning permission to add an additional two floors to the six-storey office block in 2015. However, after the November 2016 portfolio review the developer chose to shelve plans for the additional floors and allocate former office space for shops and restaurants. The owners are looking to reposition the Broadgate estate from its financial services focus to integrate more TMT occupiers.
Cushman & Wakefield is advising Mimecast; CBRE and JLL are leasing agents on 1 Finsbury Avenue.
All parties declined to comment.
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