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Landsec pre-lets London office development to Deutsche Bank

Landsec signed a 25-year, pre-let agreement with Deutsche Bank for the latter's new headquarters at 21 Moorfields in London.

The lease agreement is conditional upon planning permission being secured for the 564,000-square-foot building, which will be sought later in 2017. The German bank has committed to take up at least 469,000 square feet of space at the property.

Landsec purchased a long leasehold stake in 21 Moorfields in 2012 and secured planning approval for two buildings with a combined 522,000 square feet of space on the same plot before altering its plans. The company is looking to complete the new project in November 2021.