Specialist insurer Ascot Underwriting has begun a search for 30,000 sq ft of office space in the City.
The company – which occupies the 16,000 sq ft top floor of Plantation Place, EC3 – has appointed Savills to lead the search.
It sublet the space from management consultant Accenture in February 2005, paying £50 per sq ft on a 15-year lease, equalling the highest City rent achieved in the whole of 2004.
British Land pre-let 350,000 sq ft to Accenture in October 2001 at £54 per sq ft.
Insurance occupiers have proved some of the most active in the city market in recent months, with recent high-profile deals including AJ Gallagher’s move to the Walbrook, EC4 and Markel and Kiln at 20 Fenchurch Street, EC3.
All parties declined to comment.
For the latest activity in the City insurance market see this week’s EG.
Jack.sidders@estatesgazette.com
