Deutsche Bank Relocates to The Zig Zag Building in London's Victoria

Strategic Insights -

Deutsche Bank is relocating its Asset Management and Private Wealth Management units to The Zig Zag Building in London's Victoria, signing a 15-year lease for 92,000 sq ft of space. This move cements Victoria's position as a prime location for financial services businesses, following recent relocations by Jupiter Asset Management, Mediobanca, and Egon Zehnder. The relocation is expected to drive economic growth and development in the area, which Land Securities is actively transforming into a vibrant destination for Londoners.

Key Takeaways:

  • Deutsche Bank has pre-let 92,000 sq ft at The Zig Zag Building, Victoria, SW1, on a 15-year lease.
  • The move takes the building from 37% to 77% pre-let and solidifies Victoria's status as a sought-after location for businesses.
  • Land Securities' transformation of Victoria Street aims to create a vibrant destination for Londoners, with a focus on quality amenities, open spaces, and employee well-being.
  • The relocation of Deutsche Bank's Asset Management and Private Wealth Management units is expected to have a significant impact on the local economy, with Knight Frank and Cushman & Wakefield advising Land Securities, and JLL advising Deutsche Bank.
  • The move follows the recent relocations of Jupiter Asset Management, Mediobanca, and Egon Zehnder to Victoria, highlighting the area's growing appeal for financial services businesses.

Statistics:

  • 92,000 sq ft of space pre-let by Deutsche Bank at The Zig Zag Building on a 15-year lease.
  • 37% to 77% pre-let of The Zig Zag Building due to Deutsche Bank's relocation.
  • Over £14 billion valuation of Land Securities' property portfolio.
  • 26.5m sq ft of property owned and managed by Land Securities.
  • 97% occupancy rate at The Zig Zag Building following recent relocations.

Sources:

  • M2 PressWIRE-November 10, 2015-: Deutsche Bank Asset Management and Private Wealth Management relocates to The Zig Zag Building, Victoria, SW1.
  • Land Securities Group PLC Press Release.
  • [pounds sterling]14 billion valuation of Land Securities' property portfolio.
  • 26.5m sq ft of property owned and managed by Land Securities.
  • Land Securities' transformation of Victoria Street to create a vibrant destination for Londoners.
  • Knight Frank and Cushman & Wakefield advising Land Securities.
  • JLL advising Deutsche Bank.