Willis Signs Agreement To U.K. Headquarters
NU Online News Service, Nov. 29, 10:54 a.m. EST?Willis Group holdings said it has signed an agreement to lease a planned new high-rise in London that will serve as its U.K. headquarters.[@@]
Terms for the 25-year lease were not released.
The agreement is for a 23-story tower to be named the Willis Building. The new facility, located at 51 Lime Street, is directly across from the Lloyd's Building, the insurance broker said.
Construction of the new building is scheduled to commence in early 2005. Willis expects to occupy the new building in the second half of 2007.
Plans call for occupying the 320,000 square feet of office space and initially subletting 120,000 square feet in the lower portion of the building.
Willis promised that the building will be an "architectural London landmark" and described it as "high tech, state of the art." It has been planned by Foster and Partners architects who designed Willis' glass-faced offices in Ipswich, the British Museum Rotunda and the Glyndebourne Opera House.
All Willis Associates based at Ten Trinity Square and 1 Camomile Street will move into the new headquarters.
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