- Land Securities Group
- 19 March 2026 08:28:51
Source: Sharecast
Land Securities said the lease covered the entire 15-storey Ink building, which will become BP's new global headquarters.
While financial terms of the deal were not disclosed, the company highlighted that, as a result of the agreement, the Timber Square development was now 54% let.
The FTSE 250-listed firm also said it had seen "good customer interest" in the remaining Print building, reflecting "continued demand for best-in-class workspace" in prime central London locations.
It also highlighted that this "major lease agreement" followed its announcement on 11 March that its MYO Kings Cross development, which completed in late 2025, was already 60% let or under offer and was expected to be "substantially let" by the summer. Additionally, Landsec said it has received "healthy interest" in its Thirty High development, which was due to complete this summer.
Oliver Knight, head of workplace at Land Securities, said: "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.
"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."
As of 0825 GMT, Land Securities shares were down 1.95% at 578p.
Reporting by Iain Gilbert at Sharecast.com
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