Will Lloyds of London Relocate Their Office?

Lloyds of London are currently located in the Rogers Building within the Square Mile, with break clauses in 2021 and 2026. They are in talks to leave this iconic building for a new tower in Leadenhall Street.

Lloyds have been in the Rogers building, owned by the Chinese insurance giant, Ping An, since 1986. Relocation from their distinctive steel-clad headquarters which it commissioned from the architect Richard Rogers, would significantly reshape the heart of the Square Mile. It currently has Grade 1-listed status which it was awarded 3 years ago. With its lifts and services outside the building it has become expensive to run. Last year chief executive, Richard Ward said, ‘There is a fundamental problem with this building. Everything is exposed to the elements and that makes it very costly.’

Lloyds are understood to be in talks with Henderson Real Estate, who are currently developing a new skyscraper called Gotham City. Henderson are using Make Architects, headed by Ken Shuttleworth, who designed the Gherkin with Norman Foster. It is understood that plans are being prepared to enable Lloyds to have their own entrance into the building.

Lloyds have not yet signed any agreement with Henderson and any decisions could be several months away, however this relocation would coincide with Lloyds Vision 2025 plan to modernise the business.

Gotham City is one of several towers being built in and around the City’s insurance hub. Other buildings include the Cheesegrater, and The Walkie Talkie building.

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