Merrill Lynch has confirmed that it is buying the Post Office site on King Edward Street, EC1, to build a new £400m headquarters complex.
The site borders Newgate Street, Giltspur Street and Bart’s Hospital and includes the old Royal Mail Sorting Office and the Post Office building. Merrill Lynch is developing 55,740 sq m (600,000 sq ft) of offices next to the listed Post Office block which it will retain.
Michael Marks, chief operating officer for Merrill Lynch Europe said: “We looked at a number of options when considering how to re-house our expanding European and regional business in a state-of-the-art facility and the Post Office site met all our needs.”
It will keep offices on Farringdon Road, EC1, and Chester Street, SW1. However, it will move from its premises in Ropemaker Street, Milton Gate and Milton House and is currently looking for 4,645 sq m (50,000 sq ft) of short term accommodation.
Knight Frank advises Merrill Lynch. Jones Lang Wootton is advising the Royal Mail.
EGi News 09/07/97
