REG - Land Sec. Group PLC - Landsec leases 54% of Timber Sq office development

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RNS Number : 2302X  Land Securities Group PLC  19 March 2026

19 March 2026

 

Land Securities Group PLC ("Landsec")

 

 

 Landsec leases 54% of its Timber Square office development to bp for its new
global HQ

 

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."

Ends

 

Notes to Editors

 

Timber Square provides sustainable, high-quality workspace across two
buildings, Print and Ink, which are arranged around a new public square in the
heart of Bankside. The development has been designed to meet the evolving
needs of businesses, creating a space which enhances employee wellbeing
through a communal roof terrace, shared amenity and end of trip facilities.

At 15 storeys, the Ink Building is the tallest hybrid timber and steel
building in Europe, making it one of the most significant net-zero commercial
developments in the UK. The ambitious project has also retained 85% of the
original structure in the Print Building, to deliver a unique blend of
heritage and innovation and achieve a c. 50% reduction in embodied carbon
compared to a typical office build. The all-electric buildings are heated and
cooled using air source heat pumps and are powered by 100% renewable energy.

Located within walking distance of three of London's major transport hubs -
Waterloo, London Bridge and Blackfriars - the development benefits from
exceptional transport connectivity. With Borough Market and Vinegar Yard on
its doorstep, it is also surrounded by some of London's most popular food and
drink destinations.

About Landsec

We identify and shape places that create opportunity, enhance quality of life,
and bring joy to the people connected to them.

This is how we've created the UK's leading portfolio of urban places and one
of the largest real estate companies in Europe.

Our £10 billion portfolio is built around premium workplaces, the country's
pre-eminent retail platform, and a residential pipeline that will redefine
urban life.

We've honed this ability over 80 years. Spotting the opportunities, building
the partnerships, and continually adapting to shape the places that meet the
needs of a changing world.

Places where life happens. Where businesses grow. And where cities are
defined.

Find out more at Landsec.com

 

 Contact

 Press:                     Investors:
 Chris Hogwood              Ed Thacker
 chris.hogwood@landsec.com  edward.thacker@landsec.com

 

 

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