British Land, one of the largest property development and investment companies in the United Kingdom, plans to end its lease agreement with Gazprom’s global energy trading business at Regent’s Place in central London following the invasion of Ukraine.
Gazprom Marketing & Trading (GM&T), a wholly-owned subsidiary of the Russian energy firm Gazprom, occupies around 90,000 sq ft at the top floors of 20 Triton Street, a block on the east side of Regent’s Park.
British Land said it would try to quit the agreement as soon as possible, according to the Financial Times report.
“We have an historical contractual agreement with Gazprom at Regent’s Place and will exit this arrangement as soon as we legally can,” said British Land, adding that it was shocked and saddened by events in Ukraine.
“This is a fast-moving, complex situation, and we will continue to review all measures that are available to us, while remaining fully compliant with sanctions requirements.”
Situated at the crossroads of Camden, Fitzrovia and the Knowledge Quarter, Regent’s Place is a 13 acre, fully managed campus owned by British Land.