The financial media group Bloomberg is close to agreeing a new deal to occupy office space in the Walbrook Square redevelopment.
The Walbrook scheme will develop four new office buildings and create one million square feet of floor space.
Bloomberg have said that it is “selecting the development as its favoured option for a long-standing 500,000 sq ft search”.
The project has already begun with the demolition of the 1950’s office block, Bucklersbury House.
Bloomberg currently occupy around 300,000 square foot in the city and in March it agreed to a short-term lease of 70,000 square feet at Prupim’s Parkhouse scheme in Finsbury circus.
The company requires no ordinary office block for its headquarters. This is evident at its New York offices ‘Bloomberg Towers’ on Lexington Avenue. The skyscraper features a free food court in the middle of the reception area to promote interaction between employees.
Therefore, an exciting modern project such as the Walbrook Square could be perfect for Bloomberg. A pre-let would be signed for around 500,000 square feet but a final decision has yet to be made.
In other office news, The Sultante of Oman is looking to sell its stake in Bishops Square in Central London.
The Independent reports that the company has been instructed to sell a third of its investment fund’s 75 percent holding in the complex.
Bishops Square is an award winning skyscraper, having won the London Planning Awards Best Public Space in 2007. It currently houses tenants such as Allen and Overy.