Media & Insights

Landsec secures 40,000 sq ft pre-let at office scheme in Victoria, London

16 May 2022

Landsec has pre-let 40,000 sq ft of office space at n2, the latest addition to its Victoria portfolio, to international investment firm Qube Research & Technologies (QRT). The deal comes as demand for high quality, amenity rich workspace in central London continues to strengthen post Covid-19.

The deal sets a new benchmark for Victoria office rents and sees QRT triple its UK footprint by upsizing from its current 12,000 sq ft office in Nova South to take four floors across n2. 

n2 is the penultimate phase of the Nova masterplan, which has transformed Victoria into a leading destination for global businesses. Once complete, n2 will create 161,000 sq ft of curated office space across 17 floors. With access to outdoor space on each floor and a communal clubroom and terrace available to all occupiers on level 15, n2 has been designed to promote employee wellbeing, productivity and collaborative working. 

This latest agreement comes soon after the announcement that Landsec signed 200,000 sq ft of office deals across London between September 2021 – February 2022. 

Oliver Knight, Head of Offices at Landsec commented: “Demand for best-in-class office space in central London locations like Victoria remains resilient. The market has evolved in the last 18 months, with businesses focused on creating sustainable and engaging spaces for their employees to come together.

“The strength of our portfolio across central London means that we’re able to provide different types of space for every stage in a business’ journey, working in partnership to meet their evolving needs for the future of work no matter their shape nor size. Nova has long been an attractive destination for leading businesses, and we’re delighted to grow QRT from their home in Nova South into n2 once the building completes next summer.” 

Stuart Brown, Chief Operating Officer at QRT said: “Our staff are critical to the success of QRT, so establishing a high quality office allows us to continue a highly collaborative culture and to attract and retain the best talent. Victoria has been our home since 2018 so staying within the area was a priority for us. Partnering with Landsec has meant that we were able to expand our workspace to support a period of extensive growth for QRT, without compromising on location or quality.”

Landsec were advised by Cushman & Wakefield and Knight Frank. QRT were advised by Crossland Otter Hunt. n2 is due to top out later this month ahead of completion in Summer 2023. It is designed by Lynch Architects and construction is led by Mace.