Insurance giant Royal London will be moving into a new City headquarters at 80 Fenchurch Street.
The firm’s announcement, published on 19 August, comes as firms slowly start to return to the Square Mile following the lifting of Covid-19 restrictions earlier in the summer.
The insurer’s new HQ in the building, which has been dubbed EightyFen, will occupy floors ten to 14, with 55,000 square feet of offices let by Partners Group and YardNine. The building was completed in October 2020.
“We are delighted to have secured EightyFen as Royal London’s new head office in the capital,” Darren Smith, head of group procurement and estates at the insurer, said in a statement.
Royal London has £153bn assets under management as of 30 June 2021 and over 4,000 employees.
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“Our colleagues will benefit from collaborating in a new, modern and sustainable space with innovative smart technology embedded throughout. The property provides us with the flexibility to develop new ways of working and to meet our evolving business needs, enabling productivity all within the heart of The City,” Smith added.
Knight Frank and JLL advised YardNine, the property development and asset management firm on the deal. Cushman & Wakefield and Gowlings advised Royal London.
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Royal London’s decision to let the space is a “strong endorsement” of the importance of the office as a “hub of innovation and collaboration”, YardNine said in a statement.
Management consultancy firm Arcadis is also letting floors in EightyFen.
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