Brookfield Properties has fully leased its One Leadenhall development, a 35‑storey tower in the City of London, following a 90,000-square-foot transaction with cryptocurrency group Ripple, CoStar News can reveal.
The building, opened today, is one of the largest offices built over the past few years and Brookfield said it has set new benchmark rents that reflect the continued demand for top‑tier workspace. It is thought the top floor space has leased at close to £150 per square foot, a record for the City of London.
One Leadenhall was fully committed ahead of opening, placing it among a small group of major London towers to reach completion with minimal remaining office availability. Brookfield said that reinforced the "bifurcation of the capital’s office market and sustained interest in long-term prime assets".
Designed by Make Architects, the 430,000-square-foot tower is beside the historic Leadenhall Market and has large, flexible floorplates, landscaped upper-level terraces and a publicly accessible viewing terrace on level four. The building replaces the 1980s Leadenhall Court.
The anchor tenant is global law firm Latham & Watkins, which has taken almost 300,000 square foot in one of the largest legal sector moves in the Square Mile in recent years. An existing Brookfield Properties tenant, the firm will increase its London footprint by more than 50% when it relocates from 99 Bishopsgate in the second half of 2026.
Digital asset company Ripple Labs has now taken 90,000 square feet at the top of the building from floors 24 upwards. The Work Project has opened its first UK offering in the tower, providing 30,000 square feet of premium flexible workspace across levels 22 and 23.
Dan Scanlon, president of Brookfield Properties UK, said in a statement: “One Leadenhall represents the culmination of a decade of work by our team to create a building that sets a new benchmark for the City. The development has been shaped in partnership with our future tenants, understanding how their businesses are evolving and embedding those needs into the design. Completing fully let reinforces what we continue to see across our London portfolio: for the best buildings, in the best locations, with the best amenities, demand is exceptionally strong.”
Ripple is one of the oldest crypto companies, launching in 2012. It is a cryptocurrency group that employs blockchain to enable global financial institutions, businesses, governments and developers to move, manage and tokenise value. In the UK it is based at 10 Queen Street Place in the City.
Newmark and Cushman & Wakefield advise at One Leadenhall.