King & Wood Mallesons has been acting for leading real estate company British Land in both the development and letting of the £20 million Broadgate Circle on the Broadgate Estate. The development is now fully pre-let ahead of its opening in April 2015 except for one kiosk.
The 45,000 sq ft development, located in the heart of the Broadgate campus, will bring 11 new, high profile brands which will be open six-days a week. With an estimated 250,000 people (CACI) passing through Broadgate every day, Broadgate Circle is expected to benefit from its position around Liverpool Street Station, one of London’s most important transport hubs and from the completion of Crossrail in 2018.
The latest tenants include:
* Italian pizzeria Franco Manca has signed for c.1,500 sq ft on a 10 year lease
* José Pizarro Tapas Bar & Restaurant, developed by renowned Spanish chef José Pizarro, has taken c.1,400 sq ft on a 10 year lease
* New American surf & turf concept Crab Tavern has taken its first UK restaurant, a c.5,700 sq ft unit on a 15 year lease, and is due to open later in the summer
* Leisure operator 1Rebel - ‘the new face of fitness’ - has signed for c.8,800 sq ft on a 10 year lease
* Other recently announced signed restaurants and bars include Hakkasan Group’s Yauatcha, The Botanist from ETM Group, Aubaine, Shoryu Ramen and Comptoir Libanais.
Darren Rogers, Real Estate partner at King & Wood Mallesons, said: “We have acted for British Land over the course of the development and letting of Broadgate Circle and the development’s clear popularity is testament to British Land's concept. They have revitalised the heart of the square mile with a mixed-use retail and leisure site, ideally suited to cater for the surrounding 30,000 workers.”
The Broadgate Estate in the City of London is a 30 acre fully managed business campus in the heart of the Square Mile owned by British Land and Singapore-based global investment fund GIC. Since opening, Broadgate has been progressively developed and now includes 16 separate buildings covering 4.0 million sq ft with a further 710,000 sq ft under development. The office buildings are set around four landscaped squares each providing an attractive working environment enhanced by restaurants, bars, pubs, shops and health clubs. With over 30,000 workers, it is home to some of the world's biggest corporations and top professional practices.
The King & Wood Mallesons Real Estate team was comprised of partner Darren Rogers, lead associate Adam Hayward and associates Freya Griffiths and Elizabeth Carter.
