The London International Financial Futures and Options Exchange (LIFFE) has taken 7,710 sq m (83,000 sq ft) in the City from the London Stock Exchange. The deal represents LIFFE’s first move in a long-term strategy to acquire 70,000 sq m (750,000 sq ft) of offices in central London.
In this first deal, LIFFE has taken an eight-year lease on the Stock Exchange’s 61 Threadneedle Street, EC2, as well as the old trading floor and an office floor in the Stock Exchange Tower.
The new office space will enable LIFFE to relocate administrative functions from its headquarters in Cannon Bridge, London, EC4, allowing it to extend its main trading floor there.The trading floor will be held as disaster recovery space by LIFFE, although it says that at some stage in the future it may open it as a second trading floor.
In the longer term, LIFFE plans to move its entire operation into a purpose-built 70,000 sq m (750,000 sq ft) complex with two trading floors of 4,645 sq m (50,000 sq ft) each. The Exchange says a shortlist of six possible sites has been drawn up, including Canary Wharf, Mondial House and Spitalfields. It hopes to be in occupation by 2001.
EGi News 03/06/96
