Bloomberg to construct new City of London commercial property - Commercial Property News covering City of London Commercial Property News, Mayfair & St James Commercial Property News, Mid Town Commercial Property News, Outer London Commercial Property News, Victoria & Knightsbridge Commercial Property News

Bloomberg to construct new City of London commercial property - Commercial Property News covering City of London Commercial Property News, Mayfair & St James Commercial Property News, Mid Town Commercial Property News, Outer London Commercial Property News, Victoria & Knightsbridge Commercial Property News

The City of London commercial property market is set to become home to a new 500,000 sq ft building following revelations that Bloomberg is to establish a European headquarters in the area.

Legal & General has agreed to sell its Walbrook Square site to the US media giant, which plans to establish the base in the English capital, home to a number of global operations.

Commenting on the development, Peter Grauer, the media company's chairman, explained that the firm'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," he added of the site, which is located near the Bank of England.

Business secretary Vince Cable welcomed the development, saying it highlights the fact that "when it comes to financial and media services, London continues to lead the way in attracting the best in the business".

Posted by David Hudek

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