British Land : Broadgate fully let as WeWork Agrees Terms at 199 Bishopsgate

British Land announces that WeWork has signed an Agreement for Lease for 62,000 sq ft at 199 Bishopsgate at Broadgate. WeWork, the collaborative office platform, will continue to serve the growing population of creators and entrepreneurs in London offering space as a service. The building is now fully occupied and this letting brings the office element of the 30 acre Broadgate campus to full occupancy.

WeWork, a global leader in community and office space, is locating their third London office at Broadgate and have signed a 15 year lease. The company will occupy the bottom four office floors along with the ninth floor of the building, with a standalone entrance at ground level.

199 Bishopsgate, which was extensively refurbished in 2012, provides 146,000 sq ft of Grade A office space over 11 floors.

WeWork's members run the gamut from entrepreneurs, freelancers, and startups to artists, small businesses and even divisions of large corporations. WeWork will join an already diverse mix of businesses at 199 Bishopsgate, including JX Nippon Exploration and Production, SAS Software, global asset management business Allianz Global Investors and US law firm Dorsey & Whitney.

Adam Neumann, CEO and Co-Founder of WeWork, said: "We are thrilled to expand our community outside of the US and facilitate connection across the world. We are excited to grow with the independent workforce in London and help fulfil the demand for workspace, but also provide access to our members."

Matt Pinsent, Head of City Asset Management at British Land said: "WeWork adds to an already diverse mix of occupiers at 199 Bishopsgate.  This diversity reflects not just the quality of the building but also its location, close to the growing Shoreditch market, the City and to Liverpool Street Station.  We expect the wider Broadgate campus to benefit from the opening of Crossrail in 2018, and are investing across the estate to enhance its appeal to a broad range of sectors. We look forward to welcoming WeWork to the building later this year."

CBRE and DTZ advised British Land. CBRE advised WeWork.

For all media inquiries about WeWork, please contact press@wework.com.

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

About GIC
GIC is among the world's largest fund management companies. It was established in 1981 to manage Singapore's foreign reserves. GIC strives to achieve good long-term returns on assets under its management, so as to preserve and enhance Singapore's reserves. Since its inception, GIC has grown from managing a few billion dollars to well above US$100 billion today. GIC's investment framework capitalises on its strengths which include the ability to take a long-term investment perspective, a global presence, capabilities to invest in cross-asset opportunities, and a skilled and experienced team. It has investments across 40 countries and in assets such as equities, fixed income, real estate and private equity. GIC has been investing in emerging markets for over twenty years. GIC is headquartered in Singapore with a network of offices in nine cities worldwide.

Further details can be found on the GIC website at www.gic.com.sg

About WeWork

WeWork is a platform for creators. We provide the space, community and services you need to create your life's work. Founded in 2010 by Adam Neumann and Miguel McKelvey in New York, we are now home to over 16,000 members in 8 cities across the US and Europe. We have 25 open buildings today, with many more to come in 2015.

We are helping to create a world where people work to make a life, not just a living. There has been a macro shift towards a new way of work - one focused on a movement towards meaning. WeWork is accelerating this movement.

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