UK-based company British Land has finalised a pre-let to redevelop 1 Triton Square in Regent’s Place, London.
Regent’s Place is a 13-acre campus in London’s West End, which is in vicinity to Great Portland Street and Warren Street underground stations, as well as the Euston mainline railway station.
British Land has finalised terms with global brand, media, and digital communications provider Dentsu Aegis Network on a pre-let of the office space covering 310,000ft2.
With a cost of £196m, the deal has been finalised for a term of 20 years.
British Land offices head Tim Roberts said: “I am delighted that we have agreed one of the largest pre-lets in the West End in more than 20 years with Dentsu Aegis demonstrating the strength of demand for high-quality, well-located spaces.
“This enables us to commit to our redevelopment at 1 Triton Square, which marks the next phase in the evolution of Regent’s Place.”
To be carried out on a 366,000ft2 area, the redevelopment will increase the lettable area by 127,000ft2, including a 20,000ft2 space for retail and leisure at ground floor and another 10,000ft2 of affordable work space.
Designed by architects Arup Associates, the eight-storey building will provide an upgraded and flexible work space around a large central atrium, which will help connect the floors and will serve as a social hub.
In addition, the project will include the construction of four large roof terraces and will integrate sustainable and smart technologies that would support mobility and collaboration across the group.
Planning consent on the project has been granted by the London Borough of Camden.
Construction work on site is expected to commence in March next year.
The redevelopment of 1 Triton Square supports British Land’s focus on creating campuses with an aim to address the changing needs and improving the experience for the people who use them.