NEWS·MARCH 2026
BP has agreed to take 192,000 sq ft at Timber Square in Bankside for its new global headquarters, in one of the largest London office lettings of the decade and a landmark moment for the South Bank.
The energy company will occupy the Ink building within Landsec's Timber Square scheme, relocating from its long established St James's base. The letting takes the development to more than 54% let at completion, with law firm Lewis Silkin having signed for 67,000 sq ft last summer.
This deal captures three themes defining London offices right now. Flight to quality: occupiers are using lease events to consolidate into the very best space, and BP's move from the West End core to a next generation building is the clearest example yet. Sustainability as a dealbreaker: Timber Square is one of the largest commercial developments in the UK to use cross laminated timber at scale, and ESG performance is now a board level requirement for major occupiers. And pre letting as the market's engine: with little speculative development started since 2023, the largest requirements are being satisfied off plan, breaking records in both the City and West End.
For Bankside and the wider South Bank, a global headquarters of this stature is transformative. The area's evolution from cultural quarter to genuine corporate address is complete.
The supply question now sharpens. With the best new space being absorbed before completion, occupiers with 2028 and 2029 lease events need to be planning their moves today.
NEWS·MARCH 2026
BP has agreed to take 192,000 sq ft at Timber Square in Bankside for its new global headquarters, in one of the largest London office lettings of the decade and a landmark moment for the South Bank.
The energy company will occupy the Ink building within Landsec's Timber Square scheme, relocating from its long established St James's base. The letting takes the development to more than 54% let at completion, with law firm Lewis Silkin having signed for 67,000 sq ft last summer.
This deal captures three themes defining London offices right now. Flight to quality: occupiers are using lease events to consolidate into the very best space, and BP's move from the West End core to a next generation building is the clearest example yet. Sustainability as a dealbreaker: Timber Square is one of the largest commercial developments in the UK to use cross laminated timber at scale, and ESG performance is now a board level requirement for major occupiers. And pre letting as the market's engine: with little speculative development started since 2023, the largest requirements are being satisfied off plan, breaking records in both the City and West End.
For Bankside and the wider South Bank, a global headquarters of this stature is transformative. The area's evolution from cultural quarter to genuine corporate address is complete.
The supply question now sharpens. With the best new space being absorbed before completion, occupiers with 2028 and 2029 lease events need to be planning their moves today.