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Revised plans approved for new Deutsche Bank HQ in London

Revised plans have been approved to develop new headquarters (HQ) for Deutsche Bank in London.

The 564,000 sq ft development will be built by Landsec at 21 Moorfields in the city.

In July last year, both Landsec and Deutsche Bank exchanged a pre-let agreement for the project, with the Bank agreeing to take a minimum 469,000 sq ft of space once revised planning consent was secured.

Landsec had already committed towards building the substructure, which is scheduled for completion in March 2019. Practical completion is now anticipated for November 2021.

Colette O’Shea, Managing Director of Landsec’s London Portfolio, said: “We welcome the resolution to grant planning permission and look forward to continuing to work in partnership with Deutsche Bank and the City of London Corporation to deliver this strategically important site.”

Chris Hayward, Planning and Transportation Committee Chairman, City of London Corporation, said: “We are delighted to have unanimously approved the scheme for the new Deutsche Bank headquarters at 21 Moorfields. With the Elizabeth line supporting the creation of an estimated 63,000 jobs in the City of London and Isle of Dogs, this office, located above a future station, fits in well with the City’s ambitions for growth.”