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8/1/2017, 9:47 AM (Source: TeleTrader)
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Deutsche Bank leases future offices in London

Commercial property developer and investor Land Securities Group Plc said on Tuesday that it has exchanged a pre-let agreement with Deutsche Bank AG for the German lender's new headquarters in London. Pending the planning permission for the site under construction, the deal will be signed for 25 years. The financial giant's move indicates it sticks to its commitment to the City despite contingency plans for Brexit.

The space in question has 564,000 square feet (52,400 square meters) in total, and the bank accepted to lease at least 469,000 square feet in facilities that will be built above Moorgate underground station and the western entrance to the Liverpool Street Crossrail station in the center. 

"The agreement builds on Landsec’s existing partnership with Deutsche Bank, including the relocation of the bank’s asset management and wealth management divisions to the Zig Zag Building in London SW1. Landsec acquired a long leasehold interest in the 21 Moorfields site in 2012 and obtained planning permission for two buildings totaling 522,000 square feet on the site in 2016," the press release said.

Breaking the News / IT