The Rex Building could soon be vacated thanks to new acquisition.
There could be some new office space available on the London market if the Henderson Group acquire Gartmore Investment.
Office space in London could be emptied if the Henderson Group go through with the acquisition of Gartmore Investment Management.
The investment company is to be bought out by Henderson for around £335 million and there has already been some speculation concerning what effect this will have on Gartmore’s leased office space in London.
It looks like the Henderson Group will relocate all of the Gartmore staff in the Rex Building to their offices at 201 Bishopsgate. This is despite Gartmore taking a 15 year lease on the property with no break options.
The Rex Building consists of 74,908 square feet of office accommodation in the centre of London. The property spans seven floors and was designed by renowned architects Rolfe Judd.
Henderson also recently extended its £560 million Central London Office Fund I to December 2015 and also acquired £36.4 million worth of office space in Glasgow.
In other London office news the Liberal Democrats have announced that they are looking for new office space that is in closer proximity to the Houses of Parliament.
The Lib Dems are to leave their current offices at 4 Cowley Street which is a Grade II listed building that supplies the party with 7,000 square feet of office space. The property also features temperature controlled rooms and kitchen facilities.
The building will be available for leasing once the Lib Dems have vacated the premises, currently the property comes at a cost of £225,000 per annum which is around £31 per square foot.