8th April 2021
British Land secures 134,000 sq ft pre-let to JLL at 1 Broadgate
British Land is pleased to announce that JLL has chosen 1 Broadgate for its new UK flagship office. JLL, a global real estate services firm, has signed an agreement for lease for 134,000 sq ft on a 15 year term, representing a pre-let of nearly 30% of the office space.
The building comprises 546,000 sq ft of some of the highest quality, most sustainable mixed-use space in London, including 498,000 sq ft of best-in-class workspace, 47,000 sq ft of roof terraces and 48,000 sq ft of retail and leisure space. Enabling works are already underway with demolition due to start May 2021.
JLL's decision to be based at 1 Broadgate reflects their clear ambitions to be a net zero carbon business and aligns to British Land's own net zero commitments. This building will be the most energy efficient British Land has ever delivered, targeting a base build operational efficiency of c.55 kWheq per m2 already ahead of the company's 2030 energy intensity targets for new developments. The building will target a BREEAM Outstanding rating, which has recently been achieved at British Land's 100 Liverpool Street. 1 Broadgate will target the WELL Platinum rating for wellbeing to achieve industry leading standards for air quality, water and light, and will be designed to support employee engagement and productivity. It will also be SMART enabled to analyse and optimise operational performance.
JLL will move into the flagship location following completion of 1 Broadgate in 2025. The new office will cover three floors and have its own dedicated entrance. The move demonstrates JLL's conviction that modern, high quality and sustainable office space has an important role to play in promoting innovation, collaboration, training and culture.
The redevelopment of 1 Broadgate follows British Land's recent commitment to the development of nearby Norton Folgate and demonstrates further strong progress against the priorities the company set out for the business in November.
Simon Carter, CEO, British Land said: "We are thrilled that JLL has chosen this fantastic building for its new UK flagship office. The move is a real vote of confidence in London, a further endorsement of our campus strategy, and of Broadgate's status as a world class, mixed use destination. This news follows the successful delivery of 1FA, 135 Bishopsgate and, most recently, 100 Liverpool Street, and marks the start of the next phase of our Broadgate masterplan.
"Our shared ambitions with JLL, particularly around sustainability, demonstrate the true value of working in partnership with our customers to deliver best in class workplaces for the future."
Stephanie Hyde, UK and Ireland CEO at JLL, added: "Throughout this unprecedented time we have worked closely with clients and our own people to develop and evolve workplace strategies. 1 Broadgate will be central to our plan as we recognise the importance that offices play in collaboration, innovation and fostering culture and wellbeing.
"Working in partnership with British Land, we have a real opportunity to achieve one of the most sustainable and technologically advanced workplaces in the UK. The campus excels in the connectivity and amenities, providing our people and clients with a vibrant, dynamic and collaborative space. 1 Broadgate will enable us to significantly push the boundaries to enhance productivity, improve wellbeing and support a wider community through British Land's approach to managing the Broadgate campus and its Community Framework."
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About British Land
Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at £13.7bn (British Land share: £10.3bn) as at 30 September 2020 making us one of Europe's largest listed real estate investment companies.
Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.
Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 65% of our portfolio. Our Retail portfolio is focused on retail parks and shopping centres, and accounts for 31% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 53 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.
Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing.
Further details can be found on the British Land website at www.britishland.com
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.co.uk.