In association with the Blackstone Group, the company is aiming to establish roughly 700,000 square feet of new office space in central London’s financial district, with the banking firm UBS already lined up to occupy the building.
British Land has welcomed UBS’ commitment to office space in central London as positive news for the city and a reflection of its continued position at the forefront of the world’s financial sector.
The site earmarked for development, should the plans get the go-ahead, is located along Broadgate, with numbers 2, 3 and 6 to become Number 5, and is reportedly one of the finest areas of newly built office space in London.
“It is vital that the City is able to meet the current and future needs of key occupiers for attractive, flexible and sustainable floorspace as financial services will be a major driver in the recovery of the UK economy from recession,” said Chris Grigg, British Land’s chief executive.
“It is a sign of huge confidence in London’s status as a world financial centre that UBS has committed to building a new world-class office building in the heart of the City.”
A host of sustainability measures and technologies have been incorporated into the design of 5 Broadgate, with the architect Ken Shuttleworth of Make taking the lead.
Mr Shuttleworth said: “Our bold design was conceived from the idea of a perfectly cast ‘engine of finance’ and responds to the strength and spirit of Broadgate. We believe it sets a new standard for the future generation of truly adaptable buildings.”
In related news, the social networking powerhouse Twitter is apparently considering making London office space into its new European headquarters next year.
Editor’s Notes: 5 Broadgate opened in 2015 and is described as a ‘groundscraper’ because it provides a vast amount of lettable space across just 12 floors. More details of UBS’s headquarters building can be found here.
You can view profiles of providers that offer flexible office space and workspace solutions in the Broadgate area here.
The Broadgate Real Estate Investment Trust (REIT) was formed in 2015 as a 50:50 joint venture between British Land and Singapore’s sovereign wealth fund, GIC. The REIT acts as the holding company for the 32-acre Broadgate campus.
In March 2024, it was announced that British Land had secured 3 new tenants at its Norton Folgate E1 regeneration scheme, located on the northern edge of the City of London. Norton Folgate is a short street that connects Bishopsgate with Shoreditch.
On, the Swiss high-performance sportswear brand has signed for 20,000 square feet of office space at the Blossom Yard & Studios scheme.
Restaurant operators, Kolamba and Xi Home, also signed deals to take circa 5,000 square feet combined.
On will join fellow office occupier, international law firm Reed Smith, which has committed to rent 115,000 square feet of office space at the scheme.
In February 2026, it was reported that law firm Herbert Smith Freehills Kramer (HSFK) had signed a pre-let agreement with British Land and GIC at 1 Appold Street within the Broadgate estate.
The law firm signed a 21-year lease for 238,000 square feet, with an option to expand to up to 360,000 square feet.
The building was scheduled to be completed in Q1 2029.