British Land’s Broadgate fully let following WeWork deal

Posted on 26 January, 2015 by Neil Bird

The office element of British Land’s Broadgate estate is fully let following a lease agreement with global collaborative workspace providers WeWork.

British-Lands-Broadgate-fully-let-following-WeWork-deal

WeWork is taking a 15 year lease on the bottom four floors and the ninth floor at 199 Bishopsgate, with a standalone entrance at street level. In total they will occupy 62,000 sq ft of Grade A office space in the 146,000 sq ft building which was extensively refurbished in 2012. It will be WeWork’s third London office.

The company joins a diverse occupier line-up at 199 Bishopsgate, including asset managers Allianz Global, JX Nippon Exploration and Production, SAS Software and US law firm Dorsey & Whitney.

Adam Neumann, the CEO and co-founder of WeWork, said: “We are thrilled to expand our community outside of the US and facilitate connection across the world.

“We are excited to grow with the independent workforce in London and help fulfil the demand for workspace, but also provide access to our members.”

British Land’s Head of City Asset Management, Matt Pinsent said: “WeWork adds to an already diverse mix of occupiers at 199 Bishopsgate.

“This diversity reflects not just the quality of the building but also its location, close to the growing Shoreditch market, the City and to Liverpool Street Station.”

He continued to say that British Land expects Broadgate to benefit from the arrival of Crossrail in 2018 and that the company is investing across the estate to in order to add to its appeal, and attract a broad range of businesses.

“We look forward to welcoming WeWork to the building later this year,” Pinsent concluded.

WeWork was founded in New York in 2010 and aims to provide the space, community and services to “create a world where people work to make a life, not just a living”. Today WeWork has 25 buildings and 16,000 members in eight cities across the US and Europe, with plans to expand further in 2015.

CBRE and DTZ advised British Land. CBRE acted on behalf of WeWork.




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