INDUSTRY NEWS

New London office for Bloomberg

Bloomberg LP’s plan to build its new European headquarter offices in the city of London.

The development will be located on the site of Bucklersbury House, next to the Bank of England. Bloomberg said yesterday that the project will comprise one building with more than 500,000 square feet (46,000 square meters) of space and what they said would be another “speculative” property.

Bloomberg’s new office space in London is to be built on the Walbrook Square site near the Bank of England, and is scheduled to start in 2012 and the project is expected to be completed three years later, yesterday’s statement showed.

Bloomberg has approximately 150 offices around the world, the company owns its facilities near Princeton, New Jersey, as well as a stake in its current London building.

Chairman Peter Grauer commented: “Bloomberg’s London headquarters has always been an integral part of the company. This new project underscores our commitment to London and to expanding our presence in this world-class financial capital.”

The Bloomberg and UBS projects will increase the amount of new leasing agreements in the City this year to about 6.5 million square feet, DTZ estimates.

The decision to build new City of London offices is “a vote of confidence in London and an expression of our desire to get exactly what we want on the site itself,” Bloomberg President Daniel Doctoroff said in an interview.

Commercial property news brought to you from DeVono Cresa, specialists in London commercial property.

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