Mimecast to join tech cluster at Broadgate

British Land has signed a 15 year lease agreement with UK-founded cybersecurity company Mimecast for 79,000 sq ft at 1FA, Broadgate. The letting equates to 32% of the building’s office space.

Mimecast, a leading email and data security company, is the largest tech firm to commit to Broadgate to date and is the latest in a number of recent lettings to innovative businesses at the campus, including Starling Bank, Innovate Finance, Eataly and Theatre Deli. This letting further demonstrates Broadgate’s continued evolution into a world class, mixed-use neighbourhood, bringing people together before, during and after work.

Mimecast employs more than 500 staff in London and the new office will allow for continued expansion in all areas of the business including sales, engineering, customer service and marketing.

David Lockyer, Head of Broadgate, British Land said: “Mimecast is a fantastic addition to the already changing mix of occupiers at Broadgate. We are delighted to have already let such a large proportion of this high quality, iconic building so early in its refurbishment process, particularly alongside our recent success at 100 Liverpool Street, where have let over 160,000 sq ft to Japanese banking group SMBCE.

“Mimecast’s commitment to Broadgate and our other recent lettings to innovative businesses show that our campus strategy and aim of attracting a diverse range of businesses is paying off.”

Neil Murray, co-founder and CTO at Mimecast, said: “To work at Mimecast is to be part of something special and our location is an integral and vital part of that experience. British Land’s progressive approach will ensure our new London office at 1FA is great for collaboration, innovation and relaxing at the end of the day.

“The restaurants and shops, roof terraces within the building and relaxed outdoor space of Finsbury Avenue Square, will create an enviable working environment to help attract the best of Europe’s largest pool of tech talent.”

British Land is seeing increasing demand from a wider mix of occupiers at Broadgate. These businesses are attracted to its location, adjacent to the creative and tech-focused communities of Spitalfields, Shoreditch and Old Street and the financial hub of the City; its campus environment, where British Land is delivering great spaces both inside and outside the buildings; and its excellent connectivity which is set to improve further with the arrival of the Elizabeth Line at Liverpool Street in 2018.

British Land is undertaking a major refurbishment at 1FA which will deliver 247,000 sq ft of new workspace and 40,000 sq ft of ground floor and basement space comprising retail, restaurants and the City’s first boutique cinema. These progressive plans, which include the addition of a roof terrace, are designed to specifically appeal to innovative businesses looking for modern, quality space in an excellent location.

Cushman & Wakefield acted for Mimecast and British Land were advised by CBRE and JLL.

Enquiries:  
Investor Relations  
David Walker, British Land 020 7467 3418
   
Media  
Charlotte Whitley, British Land 020 7467 2933

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £18.1 billion (British Land share: £13.5 billion) as at 30 September 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 49% of our portfolio.

Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen's Award for Enterprise: Sustainable Development, the UK's highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

About Mimecast

Mimecast (NASDAQ: MIME) makes business email and data safer for 29,200 customers and their millions of employees worldwide. Founded in 2003, the company's next-generation cloud-based security, archiving and continuity services protect email and deliver comprehensive email risk management.

About Broadgate

Broadgate is where innovation and finance play.

It is the largest pedestrianised neighbourhood in Central London: a diverse community connecting innovation and finance, and a public arena for new food, retail and culture.

Lying adjacent to the busy transport hub of Liverpool Street station and surrounded by Shoreditch, Spitalfields, Old Street and the City, Broadgate connects Europe’s capitals of investment and technology.

Joint owners British Land and GIC are investing £1.5 billion in Broadgate’s evolution into a world class, mixed use destination for London.

Their masterplan for Broadgate will deliver 4.9 million sq ft of new and redefined workplaces, retail and restaurants, bringing people together to work, shop, drink and dine.

Broadgate’s rare collection of public spaces combines the community and feel of the historic piazza with the energy of modern London. These spaces play host to over 100 cultural events annually, providing a showcase for emerging ideas and talent.

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