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(Alliance News) - British Land Co PLC on Thursday said that Jones Lang LaSalle Inc has signed a pre-let agreement for office space at 1 Broadgate in London.
JLL, a Chicago-based real estate services company, agreed to lease 134,000 square feet, about 30% of the building, on a 15-year term when 1 Broadgate is complete in 2025. The site in the City of London financial district is being redeveloped by British Land, a London-based real estate investment trust. Demolition work is due to start next month.
"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," British Land Chief Executive Simon Carter said.
"1 Broadgate will be central to our plan as we recognise the importance that offices play in collaboration, innovation and fostering culture and wellbeing," Stephanie Hyde, JLL's UK and Ireland chief executive, said.
Shares in British Land were down 1.2% at 511.80 pence in London on Thursday.
By Ivan Edwards; ivanedwards@alliancenews.com
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