British Land Co PLC Regents Place fully occupied
September 01 2014 - 2:00AM
RNS Non-Regulatory
TIDMBLND
British Land Co PLC
01 September 2014
1 September 2014
Regent's Place fully occupied following letting of 30 Brock
Street
British Land announces today that Regent's Place, its 13 acre
mixed-use campus in the West End, is fully let with The Guinness
Partnership agreeing terms for the final remaining accommodation at
30 Brock Street. The campus was completed in the summer of 2013,
with the delivery of 10 - 30 Brock Street adding 500,000 sq ft of
office, retail and residential space.
The Guinness Partnership, a charitable housing association, have
signed a ten year lease for the accommodation at 30 Brock Street.
The letting means the completed campus of 1.5m sq ft is now
fully-occupied - a significant milestone in British Land's 30 year
journey at Regent's Place.
Regent's Place has emerged as a premier London office location,
attracting a diverse mix of occupiers including Santander, JP
Morgan, Gazprom, Aegis and Facebook.
The success of Regent's Place has been built on the quality and
quantity of office space available and the larger floorplates
offered compared to other West End locations. Currently 15
companies each occupy offices of over 20,000 sq ft across the
campus. 10 Brock Street, the largest West End office building
delivered since 2010, was fully let just three months after
completion in 2013 and was selected as the UK headquarters for both
Facebook and Debenhams.
As well as delivering the office space required by modern
occupiers, British Land has transformed Regent's Place into a rich
and diverse environment. It is home to The Triton Building; a 26
storey tower with 94 residential apartments. In addition an
extensive collection of public art is also located on the campus
along with the New Diorama Theatre, and centred around Regent's
Place Plaza, an acre of public space that plays host to an array of
events, it serves as a place for people to meet, eat and spend
time.
Formerly one of Central London's most underprivileged
communities, the area surrounding Regent's Place has been boosted
by the success of the campus. The area is now in the top 1% in
London for reductions in deprivation, with the 6,400 full time jobs
created during the construction of 10 - 30 Brock Street a key
factor for the area being ranked in the top 5% in London for
improvements to employment from 2004 - 2010.
Tim Roberts, Head of Offices at British Land, said: "This deal,
which sees Regent's Place fully-let, represents another milestone
in what has been an incredible journey over the past 30 years.
Regent's Place is a great example of how British Land creates the
right spaces and environments to attract occupiers, and where
people want to work, live and visit. It has been a huge success,
and will help inform what we do at our other campuses, notably
Paddington Central."
Enquiries:
Investor Relations
Sally Jones, British Land 020 7467 2942
Media
Giles Barrie, FTI Consulting 020 3727 1042
Andrew Scorgie, FTI Consulting 020 3727 1458
Pip Wood, British Land 020 7467 2942
Gordon Simpson, Finsbury Group 020 7251 3801
About British Land
We are one of Europe's largest publicly listed real estate
companies. We own, manage, develop and finance a portfolio of high
quality commercial property, focused on retail locations around the
UK and London Offices & Residential. We have total assets in
the UK, owned or managed of GBP17.6 billion (British Land share of
which is GBP11.9 billion), as valued at 31 March 2014. Our
properties are home to over 1,000 different organisations and
receive over 300 million visits each year. Our objective is to
deliver long-term and sustainable total returns to our shareholders
and we do this by focusing on Places People Prefer. People have a
choice where they work, shop and live and we aim to create
outstanding places which make a positive difference to people's
everyday lives. Our customer orientation enables us to develop a
deep understanding of the people who use our places. We employ a
lean team of experts, who have the skills to translate this
understanding into creating the right places, and we have an
efficient capital structure which is able to effectively finance
these places.
UK Retail assets account for 53% (pro forma for developments at
estimated end value) of our portfolio. As the UK's largest listed
owner and manager of retail space, our portfolio is well matched to
the different ways people shop today, from major regional shopping
centres to single occupier locations. We are focused on being the
destination of choice for retailers and their customers by being
the best provider of spaces and services. Comprising around 25
million sq ft of retail space across 63 retail parks, 82
superstores, 14 shopping centres, 12 department stores and 77
leisure assets, the retail portfolio is modern, flexible and
adaptable to a wide range of formats.
Our Office and Residential portfolio, which accounts for 47%
(pro forma for developments at estimated end value) of our
portfolio is focused on London. We have an attractive mix of
high--quality buildings in well--managed environments and a
pipeline of development projects which will add significantly to
our portfolio. Increasingly, our offices are in mixed-use
environments which include retail and residential elements. Our 7.3
million sq ft of high quality office space includes Regent's Place
and Paddington Central in the West End and Broadgate, the premier
City office campus (50% share).
Our size and substance demands a responsible approach to
business. We believe leadership on issues such as sustainability
helps drive our performance and is core to the delivery of our
overall objective of driving shareholder value and creating Places
People Prefer.
Further details can be found on the British Land website at
www.britishland.com
This information is provided by RNS
The company news service from the London Stock Exchange
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