Member Article

Leadenhall Building reaches capacity with Quadrature relocation

British Land and Oxford Properties have announced another new tenant at the Leadenhall Building, London.

Hedge fund Quadrature Capital have agreed terms on a ten year lease which will see it relocate from its current premises at 99 Bishopsgate.

The agreement sees the investment firm taking up all 11,000 sq ft of the 33rd floor of the building which opened its doors in July 2014.

It means the skyscraper, which is commonly referred to as ‘The Cheesegrater’, is now 94% let or under offer with ten companies, including global insurance broker Aon, currently occupying the building.

Tim Roberts, Head of Offices and Residential at British Land, was pleased with the addition of what he termed a ‘blue-chip occupier’ and believes it justifies the property developer’s leasing approach.

He said: “Our leasing strategy for the building was predicated on the variety of floorplate available, and our belief that we could attract blue-chip occupiers to the building’s upper floors post completion.

“The letting to Quadrature Capital is further evidence that our instinct was correct, and we continue to see strong demand for the limited space still available.”

Chris Carter Keall, Vice President and Head of Asset Management at Oxford Properties, added: “It is extremely pleasing to see The Leadenhall Building now almost two thirds occupied, with just three floors available for lease.

“The re-opening of the public space and walkways has created a real sense of vibrancy at the building, and we look forward to welcoming Quadrature Capital in the coming months.”

JLL and Cushman & Wakefield advised British Land and Oxford Properties. REM Roberts advised Quadrature Capital.