The insurance giant, based out of Chicago, has leased almost one-third of the massive 47-storey, 610,000-square-foot building still under construction. It is understood that Aon wanted a headquarters close to the Lloyds of London insurance market, which is based in Leadenhall Street.
Aon will occupy 191,000 square feet of the building on the lower ten floors and has the option to lease another 85,000 square feet across four more floors. It has been reported that Aon will be paying approximately GBP 55 per square foot.
Robert Brown, CEO of Aon Limited said: “We are delighted to have chosen The Leadenhall Building as our new London headquarters. The Aon Centre at The Leadenhall Building is an impressive location and the offices will reflect our position as the leading global professional services firm focused on risk and human capital management.
“Such a significant investment confirms Aon Corp’s commitment to the UK, and indeed London, as a strategically important and integral part of Aon’s future.”
When the Cheesegrater is finished in 2014 it will be among the tallest skyscrapers in London.
Aon’s current London headquarters are in Devonshire Square. The company’s lease runs out in 2014.
Oriel analyst Charlie Foster told the Guardian: “This is the first evidence of large City occupiers signing up to unbuilt accommodation ahead of lease expiries at their existing holdings.
“We don’t think there is a lot of expansionary demand at the moment. Demand comes from people relocating due to lease expiries.”
Meanwhile, the so-called Walkie Talkie office tower could become acquired by the City of London, it has been reported.
A spokesman for the City of London said that the property, still under construction at 20 Fenchurch Street, is crucial to the financial district.
Editor’s notes: Construction of the Cheesegrater building which is also known as The Leadenhall Building, was completed in 2013.
As of June 2023, Aon rented space on floors 4 to 13 and also occupied space on the ground floor that is used as its reception area. The building is fully leased and other tenants include Brit Insurance, MS Amlin and Virgin Money, amongst others.
Flex space operator Servcorp rents the 30th floor of The Cheesegrater Building and has divided the space to provide a wide selection of private furnished and serviced offices, coworking desk spaces and business lounges for a large number of businesses.