British Land has fully let its 201 Bishopsgate development at its Broadgate estate in the City of London with a letting to Henderson Group.

As revealed in Property Week (news, 09.03.07), British Land has let the remaining 124,000 sq ft in the building to fund manager Henderson on a 20.5 year-lease with an option to extend for a further five years.

The 201 Bishopsgate scheme, along with the adjoining Broadgate Tower, is one of two new buildings that form the latest phase of Broadgate, providing 822,000 sq ft of space. A further 223,000 sq ft at 201 Bishopsgate is under offer to solicitor Mayer Brown Rowe & Maw. Taking into account space on which Mayer Brown and Henderson have options, 201 Bishopsgate is 100% let and under offer.

Henderson will relocate from its headquarters at 4 Broadgate and British Land is taking an early surrender of its current lease. Surrender will coincide with Henderson occupying its new space, which, after fitting out, is likely to be late 2008.

Following surrender, British Land is proposing to develop a significantly larger office building on the site at 4 Broadgate. Design work is being progressed and a planning application is expected by mid 2008. This is the first stage of unlocking future redevelopment potential at Broadgate under the Broadgate 2020 master planning exercise.

British Land chief executive Stephen Hester said: ‘This deal is further endorsement of our commitment to providing well specified and well timed new developments and working with our occupiers to help them meet their changing business needs’.

British Land’s letting agents are Jones Lang LaSalle and Knight Frank.