Legal & General has signed a 15-year lease to move its headquarters to Woolgate, a new building set to open on Coleman Street.
The move will see Legal & General hopping just down the road, from One Coleman Street to 10 Coleman Street.
It will also be a slight upsizing for Legal & General, going from 180,000 square feet in its current office to occupying 190,000 square feet at Woolgate, taking up floors four to eight.
“We are delighted to have signed an agreement to move our London Headquarters to the Woolgate, just a few minutes’ walk from our old offices,” said Legal & General chief executive Antonio Simoes.
“Woolgate will offer our people a modern and enhanced working environment, helping to further our ambition for a better- connected L&G, with increased collaboration and employee wellbeing offerings.”
The new office space will offer entertainment space for clients, with 15,000 square feet of private terraces and a 4,000 square feet communal roof terrace.
The new communal rooftop events space also has a view of both St Paul’s Cathedral and the City tower cluster.
The move is scheduled for 2027, following completion of the fit-out of the space. Construction on the building is set to finish in the first quarter of next year.
Legal & General are only taking up 60 per cent of the building, leaving 136,000 square feet in Woolgate left to occupy, along with 8,000 square feet of space for food and beverage operators.
Cathay Life, the largest life insurer in Taiwan, are the ultimate beneficial owners of the Woolgate Exchange Unit Trust, and the major redevelopment of Woolgate represents the first of project its kind by a Taiwanese insurance company in the UK.
The building is also set to be net zero in construction and on track to achieve its targets of 4.5-star NABERS rating and BREEAM Excellent certification.
“Woolgate is well-aligned with our commitment to the net zero transition, coming with strong sustainability credentials and will support our commitment to a net zero operational carbon footprint by 2030,” added Simoes.