ServiceNow, the American software business, has signed an agreement to lease 50,449 square feet as the debut tenant at the £230 million Edge London Bridge office development, CoStar News can reveal.
The scheme, a 260,000-square-foot office in London’s Southwark, is being built by Goldman Sachs Asset Management in joint venture with Edge, the European real estate developer, investor and asset manager. The joint venture and its funding partners, Local Pensions Partnership Investments and The London Fund, are proposing "London’s most sustainable office tower" at the site. CoStar News first revealed the parties were in talks in October.
It is thought that ServiceNow has signed a 10-year lease on the top floors where rents of up to £130 per square foot are being targeted.
ServiceNow is the first occupier to commit to the 26-storey development, which is scheduled to complete in the third quarter of 2026. The parties said the building’s "strong sustainability credentials, smart technology and flexible workspace support ServiceNow’s continued focus on innovation". The deal also reflects the "sustained demand for modern, environmentally responsible offices in central London", they said.
In London, the software company is based at 6 Salisbury Square in the City, and also has UK offices in Staines, on the outskirts of the capital.
Designed by Pilbrow + Partners and delivered by Mace, Edge London Bridge is next to London Bridge Station and includes a new public park at ground level, planted balconies and natural ventilation. The partners said it is on track to become London's first multitenant building to achieve both BREEAM Outstanding and WELL Platinum certification.
The building is Edge's first London project and forms part of a strategy to create and operate what it terms "sustainable and future focused workplaces across Europe". Its other developments in the City, Edge Liverpool Street and Edge Shaftesbury, mean it has a combined pipeline of over 1 million square feet of offices in prime central London locations.
Fons van Dorst, executive managing director UK at Edge, said in a statement: “Securing the first tenant for Edge London Bridge is an important moment for our first asset in the UK. The ambition has always been to deliver one of London’s most sustainable and forward-looking office buildings. This milestone confirms that the office market supports our vision. ServiceNow is a leader in its sector that reflects our values, and we look forward to welcoming them.”
Damian Stirrett, group vice-president and general manager UK and Ireland, at ServiceNow, said: “Our new office isn’t just a new address; it’s a bold leap forward for ServiceNow in the UK. Edge's London Bridge is one of the most sustainable and tech-forward buildings in London, designed to inspire innovation and creativity, as well as deliver wellness for our team.”
Chris Semones, managing director at Goldman Sachs Asset Management, added: “This first letting validates our thesis, underlining the exceptional quality of the project, its prime location, best in class sustainability credentials and superior specification. The transaction reinforces our confidence that the building will continue to resonate with high-calibre occupiers and drive strong leasing momentum.”
Laura Moore-Gwyn, senior director, occupier Transactions at CBRE, said: “ServiceNow’s commitment to the London market demonstrates the strength of the Capital’s appeal to growing, international companies. We were able to identify a statement building in Edge London Bridge, that met ServiceNow’s requirements, incorporating a high level of flexibility, supporting our client’s growth over time.”
Edge formed a joint venture with Goldman Sachs Asset Management and the funding partners, who will own 75% of the Edge London Bridge development, in 2022.
The London Fund is a collaboration between Local Government Pension Scheme investment pools, LPPI and London CIV, which also manages local authority pensions.
CBRE and Knight Frank are the appointed leasing agents for Edge London Bridge. ServiceNow was represented by CBRE.