INDUSTRY NEWS

Bank of Tokyo rents 220,000 feet at Moorgate

British Land has secured the first tenant at its new Ropemaker development, which is scheduled for completion this summer, situated near Moorgate and Liverpool Street.

The first tenant for the notable new addition to the London office space market is the Bank of Tokyo, which has leased nine floors – equal to 186,518 square feet, with options for an additional 42,654 square feet.

The 20-storey, 586,000 square foot building boasts a sustainable design, with rainwater harvesting, expanding roof terraces and tilting, reflective windows to control temperature.

CEO of British Land, Chris Grigg said, “The agreement is very welcome progress, representing some 50 per cent of City office space taken up so far this year, and is in line with our target to let one third of new space prior to completion.”

The bank has taken a 20-year lease at an initial cost of £46.50 per square foot.