Deutsche Bank is in exclusive talks with Land Securities to move its UK headquarters to 21 Moorfields, EC2.
The German bank, which employees 7,000 staff in London, plans to sign a 25-year lease on the development.
According to reports in the Daily Telegraph, the bank is planning to move into the new headquarters in 2023.
This comes less than a week before prime minister Theresa May is expected to trigger Article 50 to start the two-year Brexit negotiation process.
International banks, including JP Morgan and UBS, have said they will likely move staff out of London, depending on what deals are reached regarding access to the single market following the UK’s exit from the EU.
In a statement this morning, Land Securities said: “Land Securities confirms, in line with previous market guidance, it will shortly complete demolition of the existing buildings which will be followed by piling and construction of an above station raft in accordance with a consented scheme.
“Land Securities is also in discussions with Deutsche Bank regarding a prelet for the development which would require alterations to the design of the building above ground. These negotiations will take several months and there is no guarantee they will lead to a transaction.”
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