19th Mar 2026 09:32
(Alliance News) - Land Securities Group PLC on Thursday agreed to lease more than half of its Timber Square office development on London's central south bank to BP PLC.
The London-based commercial property development and investment company said the lease covers the entire 15-storey Ink building in Timber Square in London and, with 192,000 square feet, equals to a 54% let of the entire site.
The Ink building is the tallest of the two Timber Square development buildings, and is the tallest hybrid timber and steel building in Europe.
The London-based oil major will use the building as its new global headquarters.
Land Securities added that it is seeing interest in the remaining Print building, which it says is a reflection of workspace demand in central London locations, as it confirmed that development of the Timber Square site will be completed this month.
Land Securities also said it is seeing "healthy" interest in its Thirty High development in London's Victoria neighbourhood, slated to be completed later this summer.
The Timber Square announcement follows Land Securities's MYO Kings Cross announcement from last week, when the company said the said that site had been 60% let or was under offer.
Head of Workplace Oliver Knight said: "BP is one of the biggest and most respected companies in the UK and their selection of Timber Square underscores the strength of demand for highly connected, sustainable workspace in locations like Bankside. Their new workspace brings together high environmental performance, a unique aesthetic and the modern amenities businesses need to attract and retain talent".
Land Securities shares were down 2.6% at 574.00 pence each in London on Thursday morning. Shares in BP were up 2.7% at 571.00p.
By Martin Miraglia, Alliance News reporter
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