Facebook expands presence at Regent's Place

RNS Number : 8902K

British Land Co PLC

22 April 2015

 



Facebook expands presence at Regent's Place

British Land announces today that Facebook UK ("Facebook") has signed an Agreement for Lease at 338 Euston Road , part of its 13 acre mixed use campus at Regent's Place.

Facebook will occupy the fifth floor of the building, as well as floors nine to sixteen and a ground floor events space, totalling 66,000 sq ft. This space is in addition to the 87,000 sq ft that Facebook already occupy at Regent's Place, following the company's decision to relocate their UK headquarters to 10 Brock Street in 2013.

338 Euston Road provides 112,000 sq ft of modern Grade A office space over 17 storeys, and will be comprehensively refurbished when Hachette and BT vacate in May.  The building is also home to occupiers including Regus and ZS Associates.

The building forms part of Regent's Place, British Land's mixed use campus located in the West End. The campus, which is fully let, is home to 45 office occupiers drawn from a range of industry sectors, as well as The Triton Building, a 26 storey tower with 94 residential apartments. The campus is centred around Regent's Place Plaza, an acre of public space that plays host to an array of events and serves as a place for people to meet, eat and spend time.

James Danby, Head of Office Leasing at British Land, said:  "Facebook's decision to expand their presence at Regent's Place is a fantastic endorsement of the campus, and underlines their commitment to this location. While the area's connectivity and the quality of the office space are of course significant factors, our work to make Regent's Place a vibrant destination in its own right has been crucial in attracting high calibre media and technology businesses, of which Facebook is unquestionably one."

Enquiries:

Investor Relations

Sally Jones, British Land                                                                 020 7467 2942

Media

Pip Wood, British Land                                                                    020 7467 2838

Andrew Scorgie, FTI Consulting                                                      020 3727 1458

Notes to Editors

About British Land

We are one of Europe's largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality commercial property, focused on retail locations around the UK and London Offices & Residential. We have total assets in the UK, owned or managed of £19.0 billion (British Land share of which is £12.8 billion), as valued at 30 September 2014. Our properties are home to over 1,000 different organisations and receive over 340 million visits each year. Our objective is to deliver long-term and sustainable total returns to our shareholders and we do this by focusing on Places People Prefer. People have a choice where they work, shop and live and we aim to create outstanding places which make a positive difference to people's everyday lives. Our customer orientation enables us to develop a deep understanding of the people who use our places. We employ a lean team of experts, who have the skills to translate this understanding into creating the right places, and we have an efficient capital structure which is able to effectively finance these places.

UK Retail assets account for 54% of our portfolio. As the UK's largest listed owner and manager of retail space, our portfolio is well matched to the different ways people shop today, from major regional shopping centres to single occupier locations. We are focused on being the destination of choice for retailers and their customers by being the best provider of spaces and services. Comprising around 25 million sq ft of retail space across retail parks, superstores, shopping centres, department stores and leisure assets, the retail portfolio is modern, flexible and adaptable to a wide range of formats.

Our Office and Residential portfolio, which accounts for 46% of our portfolio is focused on London.  We have an attractive mix of high quality buildings in well managed environments and a pipeline of development projects which will add significantly to our portfolio. Increasingly, our offices are in mixed-use environments which include retail and residential elements. Our 7.9 million sq ft of high quality office space includes Regent's Place and Paddington Central in the West End and Broadgate, the premier city office campus (50% share).

Our size and substance demands a responsible approach to business. We believe leadership on issues such as sustainability helps drive our performance and is core to the delivery of our overall objective of driving shareholder value and creating Places People Prefer.

Further details can be found on the British Land website at www.britishland.com 

 

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