Deutsche Bank seals deal with Land Securities for new London HQ

Deutsche Bank (DBKGn.DE) has exchanged a pre-let agreement for its new City of London headquarters, the building’s developer Land Securities (LAND.L) said on Tuesday.

The announcement confirmed details of the deal first reported in March, adding that under the 25-year lease agreement the German lender had committed to take a minimum of 469,000 square feet in the building at 21 Moorfields.

The building will provide Deutsche Bank, which employs around 9,000 people in Britain, with up to 50,000 square feet of workspace and the bank would retain flexibility over the amount of space it will occupy in the new building, it added.