Japanese bank acquires offices at London’s Broadgate estate

Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE) has signed a deal for 161,000 sq ft at London’s Broadgate estate.

Investor and developer British Land confirmed that SMBCE, a subsidiary of Japanese bank Sumitomo Mitsui Banking Corporation, will take the first three floors of the 100 Liverpool Street scheme on a 20-year lease.

The letting represents 37% of the building’s total space.

Tim Roberts, head of offices at British Land, said: “SMBCE’s decision to invest in Broadgate for the long term is not only a strong endorsement of London as a global city which remains attractive to international organisations as a place to do business, but of the wider campus and 100 Liverpool Street.”

In 2016, British Land committed to the 520,000 sq ft speculative redevelopment of 100 Liverpool Street.

Speaking further, Tim said of the project: “This building will be a new benchmark for London offices. With its innovative design, high quality office space and significant retail and food and beverage offer, as well as being the smartest, best connected building in London, 100 Liverpool Street will be instrumental in Broadgate’s evolution into a world class, seven day a week destination.

“The building is an excellent example of how we add value through investing in our existing buildings and the spaces between them.”