A UK-based investment bank is in talks to secure a 20,902 sq m(225,000 sq ft) headquarters site in the City of London at a rent of£538 per sq m (£50 per sq ft).
Barrington House on Gresham Street is owned by Legal & General. Thecurrent building would be demolished and rebuilt as a headquarters forRobert Fleming. The investment bank says it is still looking at a numberof locations but has indicated it wants to consolidate its operations onone site.
The move reflects a demand in the City for tenants requiring largespace. The demand is expected to push up rents at prime City sites by upto 20% in the next year, according to property consultants.
- Financial Times 27/10/97 page 20
