The proposed merger of United Bank of Switzerland and Swiss Bank Corporation could lead to huge chunks of office space coming to the market as well as a new requirement for the combined investment banking operation.
The new group, to be known as United Bank of Switzerland, plans to base the headquarters of what will be one of the world’s leading investment banks in London. It will trade under the name currently used by Swiss Bank’s London investment arm, Warburg Dillon Read.
The two banks currently occupy close to 92,900 sq m (1m sq ft) in Central London. UBS Warburg – created when United Bank of Switzerland took over SG Warburg in 1995 – occupies about 60,803 sq m (654,500 sq ft), according to figures supplied by
The largest premises include:
- 29,961 sq m (322,500 sq ft) at Nos 1 and 2 Finsbury Avenue
- 121,148 sq m (120,000 sq ft) at Lighterman House in East India Dock.
- and 17,187 sq m (185,000 sq ft) at 1 High Timber Street, EC4V.
Union Bank of Switzerland owns the freehold on a 31,586 sq m (340,000 sq ft) headquarters building at 100 Liverpool Street but sublets space on the 7th floor. It also has offices at Triton Court, Finsbury Square, EC2.
A spokeswoman for Swiss Bank Corporation said: “It is early days and there is no information yet on their London property plans.”
EGi News 09/12/1997
