US investment bank Merill Lynch is planning a £160m head office on the site of the old Post Office headquarters in King Edward Street in the City of London.
Although its property advisers, Knight Frank refused to confirm the story, it is understood that Merill Lynch will fund and build on the site itself. It is estimated that the Post Office will receive £60m for the site.
Last year, the Post Office won planning consent to develop a 46,450 sq m (500,000 sq ft) office scheme on King Edward Street.
- The Sunday Telegraph Business 02/03/97 page 1
