INDUSTRY NEWS

Lands Securities: RSA to set up new London office in the Walkie Talkie

Land Securities has confirmed another new tenant for its new skyscraper nicknamed the Walkie-Talkie.

Insurance group RSA will be moving in to the building and using four floors as a new London office location.

The Walkie-Talkie skyscraper, designed by the Uruguayan architect, Rafael Viñoly, is located at 20 Fenchurch Street, in the heart of London’s insurance district.

The 160 metre tall building promises to deliver more than 690,000 sq ft of office space and has now seen half of that office space let or at least in solicitors hands with around a year and a half of construction work still left to go.

American insurance holding firm Markel was the first firm to secure office space in the new skyscraper back in July of last year.

In September of 2012, the international insurance and reinsurance underwriting firm Kiln Group Limit, became the second major tenant in the new building.

The prominence of insurance groups taking up office space at the Walkie-Talkie has not gone unnoticed by Land Securities, but the firm have been quick to point out that lets have come from elsewhere too.

Land Securities chief executive, Rob Noel said: “We have got very good interest from insurers but there is also a lot of interest from outside the sector.”

Land Securities is the largest Real Estate Investment Trust (REIT) in the country and boasts a portfolio of 8.7 million sq ft of office and retail accommodation in the capital.

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