BT Group PLC BT to move its HQ to new premises in London (2691G)
22 Julio 2019 - 3:55AM
UK Regulatory
TIDMBT.A
RNS Number : 2691G
BT Group PLC
22 July 2019
22 July 2019
BT to move its HQ to new premises in London
BT has agreed the relocation of its global headquarters from the
St Paul's area of London to a new site in the city's Aldgate area.
The move forms an important part of 'The Better Workplace
Programme', BT's three-to-five-year programme to improve and
consolidate its workplaces across the UK.
As previously announced, BT has agreed the sale of BT Centre to
Orion Capital Managers. The transaction includes an initial
leaseback agreement of 30 months during which time BT will move to
its new headquarters in Aldgate.
BT's new headquarters will be housed in a new fit-for-purpose
building, developed and owned by Aldgate Developments, and will be
adaptable to suit the business' changing needs.
"We've been headquartered in BT Centre for nearly 35 years and
we've been looking for a building in central London that will be
the home of BT for the next 35 or more. The 18 floors of our new
headquarters will do just that," said Philip Jansen, Chief
Executive of BT. "Between now and moving into the building we'll be
working with architects, designers and - most importantly - our
colleagues, to make sure it's the home the business wants and
needs.
"The relocation of our global headquarters is a symbolic move
but really it's the tip of the iceberg; we are currently embarking
on one of the largest workplace transformation programmes the UK
has ever seen. The Better Workplace Programme is going to take a
lot of hard work but it will have a huge and positive impact on
BT's working culture, our productivity and, ultimately, our ability
to serve our customers."
BT's current offices in St Paul's were purpose-built and
completed in 1985, one year after the company's privatisation.
Since then, the immense changes within BT and technological
advancements across the industry have left the building no longer
fit-for-purpose. BT's deal with Orion Capital Managers and
subsequent move to brand new offices in Aldgate will provide
business continuity and the opportunity to significantly upgrade
the current working environment.
Paul Molloy, Leasing Director for Aldgate Developments, said:
"Aldgate Developments and our partners are delighted to welcome BT
to One Braham for their new corporate headquarters. They could not
have picked a more exciting and dynamic location in Central
London.
"BT have recognised the quality that Aldgate Developments and
our world class team deliver in our buildings. We look forward to
bringing more offices to the market in London and Dublin in the
near future, and to working with BT to make them very happy in
their new home."
BT expects to complete the move to its new offices by the end of
2021 at which point the site in Aldgate, currently called One
Braham, will be renamed.
- Ends -
Enquiries
Press office:
Tom Engel Tel: 020 7356 5369
Investor relations:
Mark Lidiard Tel: 020 7356 4909
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END
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