INDUSTRY NEWS

Dutch bank ING to move into new London office space at 8-10 Moorgate

ING has reportedly gone under offer to occupy the entire London office space offering of 8-10 Moorgate.

The Dutch bank expects to strike a deal in the next few days as it looks to re-locate from its old London headquarters.

If negotiations are successful, the banking giant will occupy the entirety of the 130,000 sq ft of office space in the Stanhope and Mitsui development.

The move will mark a step down in the size of office space ING will occupy as its current London headquarters at 60 London Wall offers 230,000 sq ft of office space.

Rumours of ING’s move into the property have circulated for a number of months, but it seemed to have opted against 8-10 Moorgate, now known as The Banking Hall, in favour of other options it had short-listed including Moorgate Exchange and Finsbury Circus House.

ING has reportedly been in the market for new office space for nearly six years: The firm initially searching for 200,000 sq ft of London office space in 2008 before putting its plans on hold.

The Banking Hall is located in the City’s financial district and is a stones throw away from the Bank of England.

Mitsui and Stanhope completed their acquisition of 8-10 Moorgate in November 2011 for a reported £30.8m from Schroders and have carried out a number of changes to the property.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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