British Land already has planning permission and has now finalised terms with a tenant for the building, signalling that work can go ahead.
Digital communications specialist Dentsu Aegis Network currently occupies 118,000 sq ft at 10 Triton Street in British Land’s Regent's Place campus. It has agreed to take 310,000 sq ft in the redeveloped One Triton Square for its new global headquarters.
One Triton Square was purpose-built for the First National Bank of Chicago and opened in 1997. The original design provided a large trading floor on the first floor, with offices above, on either side of an unusually large atrium. It will now be converted for more flexible office space, and three floors will be added.
The 366,000 sq ft redevelopment of One Triton Square will increase the lettable area by 127,000 sq ft and includes 20,000 sq ft of retail and leisure at ground floor. Designed by architects Arup Associates, the eight storey building will offer flexible work space around a large central atrium.
Regent's Place is a 13-acre campus in London's West End that has been substantially redeveloped in recent years, with 10-30 Brock Street the most recent addition. Occupiers include Facebook, Santander, Dimensional Fund Advisors and Debenhams corporate headquarters.
Tim Roberts, head of offices at British Land, said: "I am delighted that we have agreed one of the largest pre-lets in the West End in over 20 years with Dentsu Aegis demonstrating the strength of demand for high quality, well-located space. This enables us to commit to our redevelopment at 1 Triton Square, which marks the next phase in the evolution of Regent's Place. This is a great example of our campus approach in action. We are focused on creating vibrant and engaging environments across our portfolio by increasing the mix of uses, and curating the public realm as well as delivering great buildings.”