Underwriting firm commits to offices at 20 Fenchurch St

[Published November 2012 and updated August 2024] The insurance underwriting firm Ascot Ltd has committed to renting office space at the under-construction development at 20 Fenchurch Street in the City of London. The Lloyd’s of London syndicate company will occupy just short of 30,000 sq ft on the 33^rd floor of one of Europe’s most high-profile ongoing office space builds.

See office space to rent in the EC3 Insurance district of the City of London

Dubbed the Walkie-Talkie by some, 20 Fenchurch Street is being built on behalf of a joint venture partnership set up by Land Securities and the Canary Wharf Group. Two other major insurance companies, namely Markel International and Tokyo Marine Klin, have already this year signed deals that commit them both to office space within the tower.

The 525-foot-tall building, which will be one of the tallest in London, is scheduled for completion in 2014. Land Securities has suggested that there is currently very strong demand for top-quality office space in the City of London and that the pre-let deals it has managed to agree on at the Walkie-Talkie further underline that fact.

“We’re delighted to welcome Ascot to 20 Fenchurch Street, where they’ll benefit from its first-class design and construction,” said Kaela Fenn-Smith, Land Securities’ head of leasing for its London portfolio.

“The completion of yet another pre-let around 18 months ahead of completion is testament to both how well-timed and well-designed 20 Fenchurch Street is as a development,” commented Richard Archer, head of leasing at the Canary Wharf Group. “Ascot can look forward to world-class flexible office space in what will become one of London’s most distinctive and visually appealing buildings.”

Meanwhile, Ascot’s chief executive, Andrew Brooks, said that the iconic nature of the under-construction office tower on Fenchurch Street perfectly matches his company’s “dynamic, entrepreneurial approach” to its business.

Editor’s notes: In September 2012, it was announced that 20 Fenchurch Street secured its second pre-let deal with The Kiln Group.

As of August 2024, Ascot Underwriting Ltd. was the managing agency for Syndicate 1414 at Lloyd’s of London and was still in occupation at 20 Fenchurch Street.