INDUSTRY NEWS

Debenhams agree pre-let deal for more London office space

Retailer Debenhams has announced a pre-let agreement with British Land to take up a further 29,500 sq ft of office space at 10 Brock Street.

The property, based in Regent’s Place, is set to become Debenhams’ new headquarters – a move which was originally announced last September (2011).

As a result of this new pre-let agreement, Debenhams will let 174,500 sq ft of London office space for 25 years – without any break clauses in the contract.

Construction at 10 Brock Street is well underway and is scheduled for completion in around 12 months.

Commenting on the pre-let agreement, Michael Sharp, chief executive of Debenhams plc, stated: “We are delighted to be taking more space at Regent’s Place for our new headquarters.

“The estate’s attributes are clear to see, being well positioned and featuring fantastic amenities, and we continue to work with British Land ahead of moving into the new offices in 2013,” he added.

Head of Offices at British Land, Tim Roberts, also commented on the deal.

He said: “It is hugely pleasing to be letting this additional space at Debenhams, in what is the largest pre-let in the West End for over six years.

“The confidence of major corporates such as Debenhams to select Regent’s Place as the location for their headquarters us further evidence of the estate’s appeal, services and amenities and of the increasing demand from occupiers for high quality office space,” Mr Roberts finished.

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