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Deutsche Bank has decided to move some of its banking operations from the Square Mile to a Land Securities scheme in London鈥檚 Victoria.

The German giant has pre-let 92,000 sq ft of Land Securities鈥� The Zig Zag 好色先生TV in Victoria on a 15-year lease and wiill move its asset management and private wealth management units into the building, which is now 77% pre-let.

Land Securities hailed the move as 鈥渏ust the latest example of how Victoria is becoming the location of choice for financial services businesses who want to be closer to their customers.鈥� The Zig Zag 好色先生TV is being built by Lendlease.

The news came as Land Securities posted half-year results for the six months to September 2015 and an updated development pipeline.

The firm said it will begin construction on a 65,000 sq ft leisure extension to White Rose shopping centre in Leeds 鈥渆arly next year鈥� after winning planning permission for the scheme over the period. The extension is anchored by an 11-screen Cineworld cinema, and includes six new restaraunts.

Overall, Land Securities said it will deliver 1.4 million sq ft of developments in London over the next 12 months, while it has identified 1.4m sq ft of retail development and extension opportunities including Ealing Filmworks, Selly Oak, Birmingham, Buchanan Galleries, Glasgow, and White Rose, Leeds and 1.2m sq ft future London pipeline including 21 Moorfields, EC2, Nova East, SW1, 1 Sherwood Street, W1 and Portland House, SW1.

Meanwhile, its huge Westgate retail scheme in Oxford, being delivered by Laing O鈥橰ourke, began during the period and is on course to open October 2017.

The firm gave no timetable for the 拢390m expansion of it Buchanan Galleries shopping centre in Glasgow. Land Securities said it was no longer 鈥渃urrently pursuing鈥� the scheme in July due to clashes with a 拢742m Network Rail scheme nearby.

The firm鈥檚 pre-tax profit fell 31% in the half-year to 拢707.9m, down from 拢1bn the previous year.

Land Securiteis chief executive Rob Noel said the firm鈥檚 focus was on 鈥渃ompleting and letting up the remainder of our committed projects while progressing a future pipeline鈥�.

He added: 鈥淟and Securities continues to deliver the right space at the right time, and it鈥檚 paying off. Our Retail Portfolio is performing well and leasing levels in our London developments remain strong.

鈥淚n Retail, our portfolio is focused around our core themes of dominance, experience and convenience. Since the start of the financial year, we have sold selectively, recycling capital into the redevelopment of Westgate, Oxford, and other development opportunities. Operationally we are strong, with retailer sales and footfall up in our shopping centres and voids down.

鈥淚n London, we continue to benefit from our well-timed development programme delivering schemes into today鈥檚 supply constrained market. So far this financial year, a further 500,000 sq ft has been let or is in solicitors鈥� hands.鈥�