British Land has confirmed a host of lettings at its 35-storey Broadgate Tower development in the City of London.
Reed Smith Richards Butler, one of the 15 largest law firms in the world, has confirmed it will take 155,000 sq ft of office space over the top 11 floors at the scheme – accounting for 39% of the space. It has agreed a rent of £62.50/sq ft over the top floors and an average initial rent overall of £58/sq ft on a 15.5 year term.
It is the first pre-letting for the 540ft tower which will complete next summer.
The Broadgate Tower, and the fully-let adjoining 201 Bishopsgate, are two buildings that form the latest phase of development at British Land’s 30-acre Broadgate Estate in the City. British Land said the buildings, designed by Skidmore Owings & Merrill, represent the largest open market development ever under taken in the City and are now 70 per cent pre-let.
The company also announced it has exchanged contracts with Sempra Energy, the Fortune 500 San Diego-based energy services company, to take 38,000 sq ft at 155 Bishopsgate, on the Broadgate Estate. Sempra has agreed a lease term until 2019 at a rent of £57.50/sq ft.