INDUSTRY NEWS

Debenhams announce deal to see them relocate HQ to northwest London

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High street department store group, Debenhams, has today (September 20) announced that it will be moving its headquarters in 2013.

Moving to occupy northwest London office space, the company has agreed to let 145,000 sq ft at the Regent’s Place development, once finished.

Located at 10 Brock Street, the deal will see Debenhams take up the building’s first five floors over a 25-year period.

Head of Offices for British Land, Tim Roberts, which has let the office space, commented on the deal.

He said: “The letting secures long-term income on the lower floors underpinning investment value, leaving the opportunity to attract premium rents on the higher floors closer to the building’s completion date.”

Work on the property began nearly a year ago – back in October 2010 – and forms part of British Land’s development at the North East Quadrant (NEQ) – which once completed will measure 500,000 sq ft.

This particular development will feature 40,000 sq ft of space dedicated for retail and community, whilst 120,000 sq ft will be taken up residential property.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office space

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