W.R. Berkley is among the world’s foremost casualty insurance businesses. It made clear in a statement that its office development plans in the City of London reflect its commitment to what it describes as “one of the world’s leading insurance centres”.
Should the newly submitted plans get the go-ahead from the relevant authorities, it said that W.R. Berkley will occupy roughly 25 per cent of the resulting offices at the site and use them as its European headquarters. The remaining offices within the 35-storey, 190-metre-high tower will be made available to rent on the open market. Floorplates will range in size from 9,000 sq ft to 22,000 sq ft.
“The proposed development of 52-54 Lime Street is an integral component of our international growth strategy,” said William Berkley, the founder and chairman of the company behind the plans. “With the continuing expansion of our operations here, it makes sense to invest in a landmark building which will provide a strong base for that growth.”
Subject to planning acceptance, work on the new City of London office tower will begin next year, and tenants should occupy the offices before the end of 2017. The earmarked site is close to where work is already underway on several other high-profile new office space towers in the City, including most notably those at 20 Fenchurch Street, 122 Leadenhall and along Bishopsgate, which are being referred to as the Walkie-Talkie, the Cheesegrater and the Pinnacle respectively.
Editor’s notes: The office tower at 52 Lime Street, also known as The Scalpel, was completed in 2018 following a 3-year build.
The 42-storey tower delivered approximately 404,000 square feet of office space in the EC3 Insurance District of the City of London and is utilised as the European headquarters of W. R. Berkley. It is also home to other tenants, including Axis Novae, National Australia Bank, and SAP.