Willis To Build New HQ In London
By Mark E. Ruquet
NU Online News Service, Jan. 9, 3:46 p.m. EST?Willis Group Holdings said it is planning to build a new 23-story headquarters building in London to combine operations currently spread out in two locations.[@@]
The modernistic building will sit at 51 Lime St., across from the Lloyd's Building, Willis said. The broker said it plans to sublet the lower portion and occupy the remaining upper floors of the 320,000 square foot building.
Willis said the building would be owned and developed by longtime client British Land plc. Foster and Partners is the building's architect.
An architectural rendering of the Willis Building shows three curved glass fa?ade structures resembling sails, resting against one another, each progressively rising higher than the other.
Contracts for the building are expected to be completed in 60 days. Demolition of the site is expected shortly after signing, with construction beginning by the end of the year. The project is expected to be completed by mid-2007.
Willis associates, currently based at Ten Trinity Square and One Camomile Street, will be moved into the new structure.
Willis did not reveal the cost for the project.
Joe Plumeri, chairman and chief executive officer of Willis, in a statement, called the project a "defining moment" for Willis, noting that the firm's recent growth necessitated construction of one building to combine all operations. He added that the building would become one of "London's most impressive landmarks."
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