AON May Build New UK HQ at Canary Wharf in London

The Sunday Times - February 23, 2006

AON, the insurance broker, is in talks to relocate its British headquarters to Canary Wharf in London's Docklands. The company said yesterday that it was considering leasing 255,000 sq ft of office space on the estate, in what would be one of the biggest new headquarter lettings at Canary Wharf for three years. It would also be the first time that a major insurance company has taken a large amount of space at the East London location.

The Docklands developer has been trying to diversify its tenant line-up to include other types of companies in the area, which is popular with large investment banks and law firms, including Credit Suisse, Lehman Brothers, Citigroup and Clifford Chance. Property sources said yesterday that Aon was still finalising the deal, but it is expected to lease a new building at 10 Churchill Place for at least 20 years at a rent approaching £40 per sq ft.

The company would relocate from its present site at Devonshire Square in the City of London. The group, which is being advised by CB Richard Ellis, has been looking for a new London site for more than two years. The company employs about 2,000 staff in London. Aon provides risk management services, insurance, reinsurance brokerage, management consulting and speciality insurance underwriting. Sphere: Related Content