Land Securities Group plc (LON:LAND), Landsec, has agreed a 192,000 sq ft lease with bp for its office development at Timber Square, SE1. The lease covers the entire 15-storey Ink building, which will become bp’s new global headquarters.
The development of Timber Square completes this month and, as a result of this agreement, will be 54% let. Landsec is seeing good customer interest in the remaining Print building, reflecting the continued demand for best-in-class workspace in prime central London locations.
This major lease agreement follows the announcement last week that Landsec’s MYO Kings Cross development, which completed in late 2025, is already 60% let or under offer and is expected to be substantially let by the summer.
In addition, Landsec is seeing healthy interest in its Thirty High development, which is due to complete later this summer, as leasing momentum for the company’s prime office space remains strong.
Oliver Knight, Head of Workplace at Landsec, commented: “bp is one of the biggest and most respected companies in the UK and their selection of Timber Square underscores the strength of demand for highly connected, sustainable workspace in locations like Bankside. Their new workspace brings together high environmental performance, a unique aesthetic and the modern amenities businesses need to attract and retain talent.”
“Our office developments and assets play a pivotal role in supporting customers to raise the bar on both workplace experience and sustainability. Alongside Timber Square we’re focused on delivering Thirty High in Victoria, SW1, a much needed net-zero carbon and amenity-rich office space, into a submarket where high quality supply remains scarce.”
