The Financial Times is to move back to its former home in the City of London.
The company will be taking just over 137,000 sq ft at the Obayashi Corporation-owned Bracken House, in Friday Street, EC4, in 2018.
The building will undergo a refurbishment after it is vacated in 2017 by the current tenant, Japanese banking giant Mizuho, in line with its lease expiry.
Nikkei, which bought the FT last year, will be renting the building from the Obayashi Corporation, which acquired it from former FT owner Pearson in 1987.
The Grade II listed property, south-east of St Paul’s Cathedral, is named after the FT’s founder, Lord Brendan Bracken.
It was originally designed by the architect Sir Albert Richardson in the late 1950s to house the FT’s expanding news organisation. Pink Hollington sandstone from Staffordshire was used as building material to match the colour of the FT’s pages.
The FT launched a property review more than a year ago to search for new office space.
Its departure from 1 Southwark Bridge, SE1, is expected to facilitate a major riverside residential redevelopment opportunity.
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