Land Securities today received the all-clear from the City of London Corporation for its development at 21 Moorfields, which will become the UK headquarters of Deutsche Bank.
Wednesday 21 February 2018 5:48pm
This lady is clearly thrilled (Source: Getty)
Deutsche Bank and Land Securities exchanged on a pre-let agreement for the 469,000 square foot office in July last year, a deal that was widely-regarded as a vote of confidence in London's future as a global financial centre.
Deutsche Bank will become one of the largest employers in the City when it moves into the new office; the building is expected to complete in November 2021.
Chris Hayward, chair of the planning and transport committee, said: "Deutsche Bank's move demonstrates a high level of confidence in the City of London as a leader in financial and professional services."
The decision comes after reports suggested Deutsche Bank was planning to cut 500 jobs globally. The bank reported its third annual loss in a row earlier this month.
Colette O'Shea, managing director of Land Securities' 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."
http://www.cityam.com/281043/city-london-gives-green-light-deutsche-banks-london-hq
