Transport for London (TfL) has signed a 265,000 sq ft pre-let at The International Quarter in the Queen Elizabeth Olympic Park.
The huge Agreement for Lease signed at Stratford E20, will see TfL open its third major London office, in addition to Palestra in Southwark and Pier Walk in North Greenwich called.
The International Quarter is the new commercial district on the site of the Queen Elizabeth Olympic Park and is being delivered by partners Lend Lease and London & Continental Railways (LCR). It is expected that occupation of the new building will begin from Autumn 2017, with a decision on which TfL teams will occupy the space to be confirmed at a later stage.
The 265,000 square foot building which will be located on Plot S6, adjacent to the London Aquatics Centre and the Westfield Stratford City shopping centre.
The site has excellent transport links with the Jubilee line, Central Line, London Overground, National Rail, Southeastern High Speed and DLR serving Stratford and Stratford International stations in addition to the area’s extensive bus connections. The Jubilee line provides a direct connection with TfL’s existing accommodation hubs at Palestra in Southwark and Pier Walk in North Greenwich. When Crossrail services to the area begin in Spring 2019, it will further enhance Stratford’s transport links especially to central and west London, Heathrow and beyond.
Steve Allen, Managing Director of Finance at TfL, said: “We are consolidating our office accommodation into a smaller number of larger buildings. The International Quarter in Stratford provides the ideal opportunity for us to make further progress with its excellent transport links while enabling us to achieve significant savings.”
The International Quarter is one of Europe’s largest mixed-use developments and is delivering, post the 2012 Olympic and Paralympic Games, major benefits to the local and wider London economy. Lend Lease and LCR obtained detailed planning permission for the new TfL office building in March 2015, with construction set to begin imminently.
Dan Labbad, Chief Executive Officer, International Operations at Lend Lease, said: “Securing TfL as a major pre-let marks the emergence of a new generation of offices in East London that will make a lasting contribution to the local economy. Drawing on Lend Lease’s international experience and working in partnership with LCR, our ambition is to create the most agile, healthy and efficient workplaces in the capital.”
David Joy, LCR’s Chief Executive, said: “This is yet another huge vote of confidence in Stratford and The International Quarter. The momentum is really building behind this new part of London and between the Financial Conduct Authority and TfL and those that follow, this will be a really vibrant place to work and a world class commercial centre.”