The evolution of Broadgate into a world-class mixed-use destination has continued to draw in new businesses, with over 50 transactions totaling 1.2 million sq. ft let in the last two years.
The £1.5 billion masterplan developed by joint owners British Land and GIC, has successfully attracted a diverse range of new customers to Broadgate, including McCann Worldgroup, Mimecast, Eataly and Everyman, further demonstrating the appeal of the campus proposition.
According to a prepared statement, as part of the evolution, British Land is currently on site at three buildings at Broadgate, 100 Liverpool Street, 1FA and 135 Bishopsgate, together delivering more than one million sq. ft of mixed-use space. Milbank has committed to over 70,000 sq. ft and Peel Hunt LLP will take 40,000 sq. ft. at 100 Liverpool Street. The building is a 520,000 sq. ft redevelopment designed by Hopkins Architects, which will include 90,000 sq. ft of new retail space, 21,000 sq. ft of landscaped terraces and a rooftop restaurant. It has been designed with a focus on technology, sustainability and wellbeing. Located at the entrance to the Broadgate campus, 100 Liverpool Street is adjacent to the forthcoming Elizabeth Line station and will complete in 2020. Over 60% of the office space has now exchanged or is under offer at the building.
Product Madness will take 30,000 sq. ft at 1 Finsbury Avenue, the Grade II-listed building being redesigned by AHMM architects.
Julian Stait, Co-Managing Partner of Milbank’s London office, said: “We are thrilled to be moving to 100 Liverpool Street. The growth and success of our London practice is testament to our exceptional lawyers and culture of co-operation and collaboration. Cross-team working is part of our DNA and allows us to handle our clients’ most complex transactions and solve their most complex business challenges. We are looking forward to moving into exceptional space at 100 Liverpool Street which will further enhance our ability to exchange ideas and solve problems as a team.”
David Lockyer, Head of Broadgate, British Land said: “People want to work in vibrant and engaging neighbourhoods and we’re certainly delivering that at Broadgate. Our focus on creating a mixed-use destination continues to resonate with businesses and we’re delighted that Milbank, Peel Hunt and Product Madness will join our diverse community of innovative and financial companies at Broadgate.”
The masterplan for Broadgate will deliver 4.9 million sq. ft of new and redefined workplaces, retail and restaurants, bringing people together to work, shop, drink and dine.
Cushman & Wakefield acted for Milbank, GL Hearn for Product Madness, Allsop acted for Peel Hunt and Broadgate JV were advised by CBRE and JLL.