British Land, which announced its half year results today, has confirmed that the Broadgate Circle redevelopment is almost fully let ahead of its re-opening in the spring.
The City of London destination is undergoing a £20 million revamp to provide additional food, drink and leisure outlets, along with improvements to the performance space.
The scheme will bring 11 new brands to Broadgate Circle, including Yauatcha and The Botanist, which have recently agreed terms.
Yauatcha, a contemporary dim sum teahouse, has a Michelin Star rated establishment in Soho and is taking over 7,000 sq ft on a 15-year lease for its second UK location.
The Botanist, the latest restaurant and bar from the award-winning ETM Group, has agreed terms on the 8,180 sq ft terrace bar on a 20-year lease.
Other attractions coming to Broadgate Circle include French restaurant Aubaine and Lebanese delicatessen Comptoir Libanais.
Following the latest signings Broadgate Circle is over 90 pre-let or under offer, with only one unit and two kiosks still available in the 45,000 sq ft scheme.
Mathew Pinsent, Head of City Offices at British Land, says that the company’s investment in the location will enhance Broadgate’s reputation for offering good quality, stylish dining options.
Commenting on the company’s impressive half year results, Chief Executive Chris Grigg said that British Land’s “outperformance” demonstrates success across the business and that he remains confident about the outlook going forward.
“The economy is growing, interest rates are likely to stay low for some time and investor demand for quality properties in and outside London is strong,” he explained.
“Demand for offices in London is improving, supply remains constrained and rental growth now looks firmly established.
“In retail, economic growth is feeding through to consumer spend and the lead indicators of rental growth in our business are all positive.”
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