by Duncan Lamb
As Richard Ellis consider the disposal options for the GLC’s former home, County Hall, the Inner London Education Authority has emerged as the first party to express a definite interest in the complex’s 1.2m sq ft of office space.
County Hall is already home to 4,500 of ILEA’s employees — occupying around 40% of the total space — and Frances Morrell, the authority’s leader, sees a continued and expanded occupation as “good housekeeping”. Relocating ILEA — a task the London Residuary Body has to carry out — will cost, the authority estimates, £10m in expenditure terms and £75m in capital costs for new premises.
Consequently, ILEA argues, it would make economic sense to give it the building into which it could rationalise several of its London offices and let any remaining space to “another London-based public body”.
If this was not acceptable, ILEA would make a commercial, competitive bid, expecting to “receive a substantial discount” in its position as a sitting tenant. Estimates of the building’s market value range from £100m to £300m.
Sir Godfrey Taylor, chairman of the LRB, reacting to the announcement, said: “It is the LRB’s job to dispose of County Hall. If ILEA cares to put in a commercial bid it will be considered with any others.”
However, eventually it may be political reasons rather than financial or logical ones that move ILEA out of County Hall for the first time in 70 years.
They have already been prevented from occupying certain areas of the building since the GLC’s demise, so that, it is rumoured, no signs of County Hall life can be seen from across the river at the Houses of Parliament. Certainly, a prolonged ILEA occupancy would aid any future reincarnation of the GLC.
