Meridian Delta, the joint venture between Lend Lease and Quintain that is leading the regeneration of the Greenwich Peninsula, has let 61,000 sq ft of office space.

The joint venture has let two floors to Transport for London at the 196,000-sq-ft first commercial building on the site.

TfL will be the sole tenant of the building, which will be the first element to be completed and occupied in the Greenwich Peninsula’s 3.5m sq ft business district, Peninsula Central.

The building, designed by Terry Farrell & Partners, includes 13,100 sq ft of retail space.

Construction is scheduled for completion in summer 2009.

Charles Stafford, Director of TfL Group Property & Facilities said:

'The move to Greenwich is part of drive to save up to £100m from our office accommodation strategy over the next 25 years,' said Charles Stafford, a director of Tfl Group Property & Facilities.

'We are consolidating to three principle locations – Palestra, Greenwich Peninsula and the Shard - significantly reducing operating costs and providing a greener working environment in locations that are well served by transport links.

'This is part of an overall £2.4bn in efficiency savings across TfL that will contribute funding towards TfL’s major investment programme projects, including the upgrade of the Tube, expanding London Overground and building Crossrail.'

TfL moved into the Palestra building in Southwark in 2008 and expects to occupy the Greenwich Peninsula building in summer 2009 and the Shard at London Bridge in 2012.