Transport for London (TfL) has agreed to take 135,000 sq ft of office space at Quintain and Lend Lease’s Greenwich Pensinsula Central scheme in east London.
In a major boost for east London the transport body will take a 20 year lease at the business district which overlooks the O2 arena. It also has an option to secure a further 60,000 sq ft of space.
Construction will begin on the Terry Farrell & Partners-designed office scheme before the end of the year and TfL will occupy the space in 2009.
Quintain and Lend Lease, who have established a 50:50 joint venture for the development and will each invest a maximum of £60m in debt and equity, will also develop a second 110,000 sq ft office building.
The two buildings will form part of the 3.5m sq ft business district at the £5bn Greenwich Peninsula redevelopment that will also include 10,000 new homes, 150 shops, restaurants and 48 acres of green space. English Partnerships is the principal landowner of the 190 acre site.
Nick Shattock, deputy chief executive of Quintain, said: 'To have launched a new major commercial centre for London with such a significant letting to a regulatory authority, with the potential for several satellite businesses, is a remarkable coup.’
Charles Stafford, Tfl director of group property and facilities, said: 'This move is a key part of our business strategy to improve the overall quality and productivity of the Workspace we provide for our staff.’