Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE), a subsidiary of Sumitomo Mitsui Banking Corporation which itself stands as one of Japan’s leading banks, recently reaffirmed their commitment to the UK market with the announcement that they had secured a 20-year lease for 161,000sq. ft. of grade-A office space at the 100 Liverpool Street redevelopment at Broadgate.

The deal with British Land will see SMBCE taking over the first three floors of the buildings in a long-term and lucrative agreement that should benefit both parties.

British Land committed to the 520,000sq. ft. speculative redevelopment of 100 Liverpool Street  in the latter months of 2016, recognising the building’s potential appeal to a diverse range of occupiers looking for high quality yet flexible office space within the Broadgate campus environment.

Located at the gateway to the campus and adjacent to Liverpool Street’s Elizabeth Line station entrance, this redevelopment transforms Broadgate’s interaction with one of London’s busiest transport hubs.

Aside from the aforementioned office space, the building will also include 90,000sq. ft. dedicated to retail, restaurants, cafés and bars which, together with other current developments, will double the retail offer at Broadgate by 2020. SMBCE’s letting represents 37% of 100 Liverpool Street’s office space. The remaining 5 upper floors range from 20,000 to 60,000sq. ft, each with terraces of up to 10,000sq. ft. with views across London.

Tim Roberts, head of offices at British Land, said of the newly-penned deal, “SMBCE’s decision to invest in Broadgate for the long term is not only a strong endorsement of London as a global city which remains attractive to international organisations as a place to do business, but of the wider campus and 100 Liverpool Street.

“This building will be a new benchmark for London offices. With its innovative design, high quality office space and significant retail and food and beverage offer, as well as being the smartest, best connected building in London, 100 Liverpool Street will be instrumental in Broadgate’s evolution into a world class, seven day a week destination.

“The building is an excellent example of how we add value through investing in our existing buildings and the spaces between them.”

This letting to SMBCE is the most recent in a series of commitments from across a range of occupiers at Broadgate, including cyber security and data management company Mimecast, which is taking 79,000sq. ft. at 1 FA, which is currently undergoing a major refurbishment.

Sam Bonson

Sam is an aspiring novelist with a passion for fantasy and crime thrillers. He is currently working as a content writer, journalist & editor as he continues to expand his horizons.
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