Land Securities : Demand for quality office space proves resilient as Landsec’s Eastbourne Terrace hits full occupancy

Title	Demand for quality office space proves resilient as Landsec's Eastbourne Terrace hits
	full occupancy
From	LAND SECURITIES GROUP PLC ("Landsec")
Date	05 December 2022

Landsec has let over 12,000 sq. ft of workspace at 30 Eastbourne Terrace, to the global services marketplace Bark. This deal takes Eastbourne Terrace to full occupancy, with a further 28,000 sq ft of

offices being let to various organisations since March, including Orca Computing,

CloudKitchens,

Denodo, Forescout Technologies and Technology One. These deals demonstrate the continued demand for high quality office space in prime locations across the capital.

Bark has signed leases for two floors to accommodate their rapid growth. Initially, the services marketplace will occupy 3,309 sq. ft of Customised space on the ground floor of Eastbourne Terrace, before also taking up residency on the building's third floor comprising 8,746 sq. ft Blank Canvas space. As their previous space in the area was undergoing redevelopment, Bark required a ready-to-go solution to accommodate their staff in a location with excellent domestic and international connectivity.

Eastbourne Terrace occupies an enviable location opposite Paddington station with direct access to the newly opened Elizabeth Line. The buildings at 10, 20 and 30 Eastbourne Terrace were developed with wellbeing and sustainability in mind, achieving 'Excellent' BREEAM and WELL-enabled credentials. Featuring floor to ceiling windows, collaborative spaces, access to an expansive communal rooftop garden, and a café, Eastbourne Terrace provides the very best office environment to support Bark's rapid growth plans. Both floors will offer Bark sustainable office space for the business to make their own. For their Customised space on the ground floor, Landsec's dedicated team of workplace experts have delivered high quality self-contained offices reflecting Bark's brand and culture.

Oliver Knight, Head of Offices at Landsec said: "Despite a challenging landscape, today's news demonstrates the continued demand for high quality office space in London. Flexible ways of working are no doubt changing how businesses use offices, but as illustrated by this latest deal, quality and location remain key drivers.

"Both employers and employees are no longer satisfied by conventional office space that offer no reason to visit outside of work, instead they want premium workplaces in proximity to top tier retail and leisure that can support a fulfilling, healthy work-life balance. Places like Eastbourne Terrace that have wellbeing, sustainability and collaboration at their core mean we're well primed to work in partnership with businesses to meet their evolving expectations."

Advisors included JLL, Bluebook and CBRE

Ends

About Landsec

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a £11 billion portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.

Find out more at landsec.com

Please contact:

Tayla Benson [e-mail]

Louise Koranteng [e-mail]