French bank BNP Paribas has unveiled its plans to consolidate its London base, according to an article published by Financial News.
With offices at 5 Aldermanbury Square, 55 Moorgate, as well as buildings on Harewood Avenue, BNP Paribas has also revealed that its real estate arm will be developing new London office space.
The new building will provide 350,000 sq ft of office space and will be constructed on land at King’s Cross – originally purchased in 2010.
Once completed in 2015, the office will act as a base for the bank’s investment partners, real estate, security services and wealth management operations.
A spokeswoman for BNP revealed that it was likely that the building would continue to be owned by the bank once completed; however, she added that the bank declined to comment on the exact value of the development.
UK chairman of BNP Paribas, Ludovic de Montille stated: “This long-term real estate strategy has been formulated to serve our needs in London and focusing our operations on these two campuses will allow for future growth, further improve our ability to service clients, promote cross-selling and reduce costs.”
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