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British Land, GIC mull adding mall at London's Broadgate


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British Land, GIC mull adding mall at London's Broadgate

British Land Co. Plc and GIC plan to seek tenants beyond the financial services sector as it redevelops the Broadgate office complex in London, Bloomberg News reported, citing two people familiar with the plan.

The partners are mulling the addition of a shopping center at 1 & 2 Broadgate, according to the Dec. 9 report. British Land CEO Chris Grigg reportedly said about 400,000 square feet of retail space will be added at the complex.

Some of 1 & 2 Broadgate's office tenants are Brookfield Multiplex, Royal Mail and UBS University, according to its website. British Land recently signed a lease extension deal with Crédit Agricole for the latter's occupancy at the office complex until 2025.

Earlier in 2016, the company said that its £530 million pipeline of speculative development included a 32-acre development at Broadgate.