International law firm Gowling WLG has advised leading commercial developer Aldgate Developments on the 15-year lease of the One Braham office development to UK telecoms giant, BT for its new headquarters.
Following on from the sale of its global headquarters in the St Paul's area of London, BT will be moving its HQ to One Braham, an 18-storey commercial building currently being developed in Aldgate which will provide c.340,000 sq ft of office accommodation with retail units on the ground floor. The scheme adopts a contemporary office feel with exposed ceilings and integrated retail at ground floor, whilst still boasting some of London's finest views, and considerable floorplate efficiencies.
The transaction highlights Gowling WLG's expertise in commercial real estate development and leasing projects.
Nick Mumby partner at Gowling WLG, said: "It is a privilege to be working with Aldgate Developments on this project and to have dealt with the challenges posed by such a high-profile letting. It is a testament to the skill and quality of the developer that they have now delivered and let nearly 700,000 sq ft of office space in Aldgate".
Paul Molloy, Leasing Director at Aldgate Developments, said:
"It is fantastic to work alongside advisers that genuinely appreciate the commercial aspects and technical complexities of a major pre-let transaction. Securing a letting at this stage in the development was not easy, but the Gowling team provided innovative solutions to each problem that arose".
The team was led by Real Estate Partner, Nick Mumby who was supported by real estate associate, Ed Willis, planning partner, Ben Stansfield and planning associate, Nick Harding.