ICI ready to move after 73 years

ICI IS reviewing the future of its London headquarters in a move which could eventually see it depart from 9 Millbank, its head office since the company's foundation 73 years ago, writes Michael Harrison.

The company has twice considered moving from the imposing building (pictured above) in the past 12 years, but has not found a suitable alternative. Now, however, some senior executives feel that a new head office location would be more in keeping with the new-look ICI. One of the criticisms of the existing office, which houses about 250, is that its design is inefficient and makes communication difficult.

ICI no longer owns the building after raising more than pounds 100m in 1997 via a sale-and-leaseback with the Prudential.

ICI's head office has steadily shrunk: in the late 1980s a sister building over the road was let out to the intelligence agency MI5 and the next- door building, Nobel House, was let to the Ministry of Agriculture.

There is now a gym and squash courts in part of the basement, and the rear of the building has been let to a bank.