Portfolio Description

London Offices

£5.4 billion

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• Broadgate, London EC2
• Regent’s Place, London NW1
• Further London offices

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Broadgate, London EC2:

Broadgate is the premier City of London office estate, consisting of 15 office buildings, together with the recently completed 201 Bishopsgate and the site on which we are developing The Broadgate Tower. When the Tower is completed the estate will have increased to 4.8 million sq ft of Grade A office space – a distinctive environment for some of the world’s largest corporations and leading professional practices.

The development of Broadgate has taken place in phases, with the most recent building, 201 Bishopsgate, being completed by us in April 2008. The office buildings, designed by leading architects, are all structurally independent, ranging in size from 81,000 sq ft to 410,000 sq ft and accommodate office floor plates ranging from 828 sq ft to 56,000 sq ft. Each building provides efficient working space of the highest standard. The flexibility built into the design of the buildings readily allows occupiers to change floor layouts, create additional working space or install the latest technology to adapt to changing working needs.

Broadgate has a wide range of retail outlets and excellent public transport facilities. The estate is served by Liverpool Street station, one of the City’s major transport interchanges, which provides mainline train services and four underground lines, as well as a bus station and taxi services.

Within the estate the buildings are set around three landscaped squares – Broadgate Circle, Exchange Square, and Finsbury Avenue Square – and the Bishopsgate Arcade. A fourth public space – the Broadgate Plaza – will be created upon completion of the Broadgate Tower later this year. Each public space creates a unique working environment for the offices, enhanced by 53 restaurants, pubs, wine bars, shops and health clubs, as well as a five-star hotel. In winter the open-air ice rink in Broadgate Circle provides a focal point for spectators and skaters alike. In summer, open air events take place in the squares for the entertainment of those who work in and around Broadgate. The estate is managed by Broadgate Estates, a wholly owned subsidiary of British Land.

1-3 Finsbury Avenue – 480,000 sq ft

Centred around the newly landscaped Finsbury Avenue Square. Part of the UBS campus headquarters at Broadgate together with 1-2 Broadgate, 6 Broadgate and 100 Liverpool Street.

1-3 Broadgate – 392,000 sq ft

Part of the UBS campus and ICAP’s London headquarters, the building accommodates state-of-the-art trading platforms. Incorporates Broadgate Circle retail and leisure facilities.

4 Broadgate – 165,000 sq ft

Currently Henderson’s headquarters. Henderson has agreed to relocate to 201 Bishopsgate, releasing this building to unlock its potential for a redevelopment – the first step of our Broadgate 2020 master planning exercise.

6 Broadgate – 263,000 sq ft

Next to Broadgate Circle. Multi-let to include Mitsubishi, Lehman Brothers and UBS.

100 Liverpool Street – 383,000 sq ft

Occupied by UBS. Located adjacent to Liverpool Street station and the main entrance to Broadgate.

135 Bishopsgate – 360,000 sq ft

Comprises part of the RBS City campus headquarters with state-of-the-art dealing floors.

155 Bishopsgate – 409,000 sq ft

Multi-let to a number of major financial institutions, including Bank of Scotland, Baring Asset Management, Framlington, Norinchukin Bank, Sempra, Sumitomo and Tullet Prebon.

175 Bishopsgate – 385,000 sq ft

Let to EBRD. We sold this building in May 2007 to KanAm Grund for £406.3m.

199 Bishopsgate – 146,000 sq ft

Let to ABN AMRO as part of their London headquarters with 11 floors fronting onto Bishopsgate.

Exchange House – 385,000 sq ft

10 storey building, multi-let to legal and financial institutions including Herbert Smith, Société Générale and F&C Asset Management.

Broadwalk House – 302,000 sq ft

At the northern entrance to the Broadgate estate and adjacent to the new 201 Bishopsgate and The Broadgate Tower. Principal occupiers include Ashurst and Calyon.

1 Appold Street –189,000 sq ft

Let to Deutsche Bank on seven floors, with a Holmes Place health club at basement level. The building has dual aspect onto Exchange Square and Appold Street.

10 Exchange Square – 161,000 sq ft

Completed in 2004 overlooking Exchange Square. Multi-let to tenants including Herbert Smith, Close Brothers, Western Asset Management and Legg Mason.

201 Bishopsgate – 419,000 sq ft

The most recently completed building on the estate, with practical completion to shell and core achieved in April 2008. The offices are 75% pre-let to Mayer Brown and Henderson.

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Regent’s Place, London NW1:

Located on the Marylebone Road/Euston Road corridor, one of London’s main road arteries, Regent’s Place occupies a prominent position at the north of the West End, with significant transport links – four underground stations are within walking distance and Euston Station is also nearby. The estate comprises a distinctive and striking mix of buildings, providing offices and public spaces with a range of facilities including a crèche, health and fitness club, supermarket, coffee and sandwich outlets and wine bar.

Two further phases of development will double the size of the estate from 1 million sq ft to 2 million sq ft. Phase 1, at Osnaburgh Street, is under construction to include two office buildings totalling 365,000 sq ft, plus 151 residential units. Completion is due Q3 2009.

Euston Tower

At 36 storeys, this West End landmark building provides 330,000 sq ft of offices let to HM Government on a recently restructured lease until 2022, with ground floor retail units.

2-3 Triton Square

This major headquarters building of c 200,000 sq ft is let in its entirety to Abbey on leases to 2022.

1, 4 & 7 Triton Square

A six storey building of c 217,000 sq ft providing a mix of office, retail and leisure space.

The offices of 185,600 sq ft are let to Atos Origin, JP Morgan and London & Capital on leases with expiries between 2017 and 2022. Triton Square Mall provides a pedestrian through route with retail units. It also houses the Estate Office for Broadgate Estates Limited, providing an on-site dedicated team dealing with security and day-to-day management. Triton Square is an important public space, hosting a variety of entertainment events during the year and featuring important and diverse artwork.

350 Euston Road

This striking building of 121,000 sq ft has full glass wall frontage and a prominent position. The offices are let to the General Medical Council, Elexon, Balfour Beatty, Capital One Bank and Networking People Limited for terms generally in excess of nine years unexpired.

338 Euston Road

This 17 storey building provides 111,000 sq ft of offices. The major tenant is Hodder Headline, occupying 59,100 sq ft on eight floors. The other tenants are Regus, Grant Thornton and British Telecom. The building is currently undergoing a £12 million refurbishment of the entrance hall, lift lobbies, toilets and 20,000 sq ft of offices, of which 7,300 sq ft has been let at £61 per sq ft.

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Further London offices:

The Willis Building, Lime Street, EC3

This 496,000 sq ft development comprises a striking 28 storey tower building and a 10 storey podium building. Designed by Foster and Partners it has now completed and is occupied by the leading insurance broker, Willis Group. The buildings occupy a prime site directly opposite Lloyd's of London, in the insurance district of the City of London.

York House, W1

York House was completed in early 2007 and provides over 90,000 sq ft of office space, with adaptable and efficient floor plates, on the imposing island site close to Marble Arch in the West End. The development also includes 11,000 sq ft of retail space and 22 residential units. British Land occupies some 40,000 sq ft of the offices as its new head office, and the remainder of the building is fully let to tenants including GIC, Bunzl, Moor Park Capital, Hurley Palmer Flatt, HSBC and Patisserie Valerie.

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