Amlin has agreed on a non-binding head-of-terms occupancy deal with the joint venture partners behind the building’s ongoing development, namely the two real estate investment giants British Land and Oxford Properties.
The deal commits the specialist insurer and re-insurance business to rent 111,000 sq ft of office space across eight floors of the tower and allows it to take up a further 36,500 sq ft. The building is scheduled for completion in mid-2014.
“Leadenhall will provide our staff with perfectly located offices in this elegant, high-rise building, and we look forward to moving to our new headquarters in 2015,” said Amlin’s group finance and operations director, Richard Hextall.
“This major letting to Amlin is further testament to the world-class credentials of The Leadenhall Building – both in terms of the location and prestige of the building itself and the flexibility and quality of the space on offer,” added Paul Brundage, executive vice president of Oxford Properties and its senior managing director in Europe.
The commitment from Amlin follows a little over a year after the international insurance firm Aon agreed to pre-let 191,000 sq ft of offices at the Cheesegrater development. The offices will become Aon’s main base in London, which recently became its international headquarters.
Several major office space development schemes are in progress across the City of London right now, with the Cheesegrater among the most high-profile. The Walkie-Talkie, which is being built on Fenchurch Street, and The Pinnacle, which is taking shape on Bishopsgate, are also among the most high-profile.
Editor’s notes: Amlin rebranded as MS Amlin following its acquisition by Mitsui Sumitomo Insurance Group for £3.5 billion in 2015.
As of August 2024, MS Amlin was based at The Cheesegrater office building, occupying floors 19 to 24.
The Cheesegrater office tower was completed in 2013, and up-to-date information about the building and its tenants can be found here.