AXA Real Estate Investments made the announcement on behalf of its client, the Co-operative Insurance Society, and said Genesis will take the entire 60,000 sq ft of office space being readied at One St Paul’s in central London.
The offices at One St Paul’s form part of a broader mixed-use development effort that will see residential and hospitality space made available nearby.
Genesis, which is a subsidiary of the Technip Group, has said it intends to make the City of London offices its international headquarters and its only office base in London. The terms of the tenancy agreement signs the company up to the site for the next 15 years.
“The letting to Genesis marks the successful conclusion of a two year plan to reposition this building into a prime mixed used scheme,” remarked AXA Real Estate’s UK director of development.
“The new headquarters will accommodate all of our London staff in one building and has the flexibility to meet our anticipated growth,” added Genesis’ managing director John Cambridge. “The flagship headquarters, in the area of St. Paul’s Cathedral in central London, is a confident statement of intent for the future of our company,” he said.
Earlier this month, AXA Real Estate announced that its Tokyo office property fund recently agreed to purchase a building called the Shinjuku Sanchome in central Tokyo for a total of 10 billion Yen, which equates to around £70 million. The site covers a total of roughly 49,000 square feet of commercial space.
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Editor’s Notes – In April 2023, the company, which was founded in 1988, was still in occupation at One. St. Paul’s Churchyard, London EC4M 8AP.
The company operates out of 12 office locations globally and employs over 1,000 people.