Crédit Agricole has agreed a regear of its lease on its 150,000 sq ft City headquarters at British Land’s Broadwalk House, EC2.
The French bank has signed a deal to remain at the office at 5 Appold Street, where it has committed to a six-year lease extension to its existing lease, which had a break option in July 2019. Crédit Agricole will pay a rent of around £45 per sq ft overall, close to the building’s existing passing rent.
The bank also has an option on a further 60,000 sq ft in the building, which may or may not be exercised depending on the outcome of Brexit negotiations. Crédit Agricole has been based at the building since 2000.
British Land has committed to upgrading the building’s infrastructure, as well as modernising the reception area.
The regear comes after Deutsche Bank entered negotiations earlier this year to occupy around 500,000 sq ft at Landsec’s 21 Moorfields, EC2, in another positive sign of the City’s continuing attraction to international banks.
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