Three UK sites in running for Bloomberg HQ

Mark Leftly@MLeftly
Sunday 30 November 2008 01:00

Bloomberg, the media empire founded by the current Mayor of New York, has shortlisted three sites for its new London headquarters.

The New York head office is considering taking 300,000 to 400,000 square feet in either Watermark Place, the UBS and Oxford Properties development next to the Thames, which is due to open next year; Minerva's The Walbrook, under construction in the City; and Ropemaker Place, which is being developed by FTSE 100 giant British Land.

Bloomberg is looking to consolidate its London operations in a single building, echoing its organisational strategy in New York. The company has hired property agent Atisreal to conduct the search for new offices, though a decision could take time as it has long leases of up to nearly 15 years on its existing London operations in buildings at Finsbury Circus.

New York Mayor Michael Bloomberg, a multi-billionaire, established the media group in the early 1980s and was touted as a possible presidential candidate for this year's US election.

In other related property news, a senior source said on Friday that an end to the search for a new chief executive of British Land – after Stephen Hester left to take over at Royal Bank of Scotland (RBS) earlier this month – "is imminent".

The UK's biggest property group looks set to be run by someone from the financial services sector. Industry speculation had focused on candidates with a property background, such as Great Portland chief executive Toby Courtauld, but it is rumoured that investment bankers, and even former RBS executives, have been under consideration.

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