German bank in talks for new London HQ

Land Securities has confirmed it is in talks to sign up Deutsche Bank for a major pre-let at its 21 Moorfields development in the City of London.

In a stock market announcement Land Securities said: “We are in discussions with Deutsche Bank regarding a pre-let for the Moorfields development, which would require alterations to the design of the building above ground. These negotiations will take several months and there is no guarantee they will lead to a transaction.”

Land Securities bought the 1.9-acre site in February 2015. It is located immediately above the Moorgate underground station and what will be the western ticket office for Liverpool Street’s Crossrail station.

The redeveloped 21 Moorfields will feature two Wilkinson Eyre designed buildings of 38,800m² and 8,800m² comprising offices and shops at ground floor; both set around a new public square at Highwalk level.

Land Securities also said it will shortly complete demolition of the existing buildings, which will be followed by piling and construction of an above station raft in accordance with a consented scheme. Construction of the raft is due to be completed by June 2018.