Fast-growing digital challenger bank Monzo has inked a deal to treble the size of its London HQ.
The four-year-old app-based bank, which is used by over 3 million people, will start to relocate next year to over 120000 square feet at Broadwalk House near Liverpool Street station. It will move from around 40,000 square feet nearby which it has outgrown.
Broadwalk House sits on the Broadgate offices and retail estate. It is owned by British Land and Singapore’s sovereign wealth fund GIC.
David Lockyer, head of British Land’s Broadgate, said: “We are seeing strong occupier demand for well-located, high quality office space. Monzo’s decision to relocate is a sign of confidence in the long-term appeal of London.”
A number of landlords have seen high occupier demand in London, despite political and economic uncertainty.
Property developer Derwent London yesterday said it had agreed £33.5 million of new lettings in the year to date, up from £23 million in the same period in 2018. Chief executive Paul Williams said firms have been flocking to sign deals for Derwent’s buildings above Elizabeth line stations.
