Deutsche Bank has prelet 564,000 sq ft for its new London headquarters at Landsec’s 21 Moorfields, EC2, on a 25-year lease.
Landsec said today that it had worked closely with Deutsche Bank on the design of the building, and that the bank would retain flexibility over the amount of space it will occupy in the new building; it has committed to take a minimum of 469,000 sq ft under the deal.
The letting, although representing the largest deal in central London so far this year, is a downsizing for the bank, which currently occupies 900,000 sq ft at nearby Winchester House.
The 21 Moorfields building is directly above Moorgate Underground station and the western entrance to the Liverpool Street Crossrail station.
The building will provide Deutsche Bank with floors offering up to 50,000 sq ft of workspace.
The agreement builds on Landsec’s existing relationship with Deutsche Bank, including the relocation of the bank’s asset management and wealth management divisions to the Zig Zag Building, SW1.
Landsec acquired a long leasehold interest in the 21 Moorfields site in 2012 and obtained planning permission for two buildings totalling 522,000 sq ft on the site in 2016. It will submit a planning application for the revised scheme later this year, and is targeting practical completion in November 2021.
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