Forum Topic

Lloyds of London in talks to extend the lease on the building

I really did not know that Lloyds of London did not own its HQ. I find it rather offensive, if that is the word, that the building is owned by a Chinese firm!Lloyd’s of London rejects work from home with talks to extend stay at HQInsurance giant considering staying at 'inside out' building beyond 2031Lloyd’s of London is rejecting the shift to home working with talks to remain at its listed headquarters in the heart of the City until the end of the next decade.The world’s largest insurance market, which has been based at the “inside-out” building at One Lime Street since 1986, is in discussions with the Chinese owner of the property about extending its lease well beyond 2031, the Telegraph understands.....Lloyd’s lease on the 298ft building, which is owned by Chinese insurance giant Ping An, runs until 2031, with a break clause in 2026.......https://www.telegraph.co.uk/business/2023/02/26/lloyds-london-rejects-work-home-talks-extend-stay-london-hq/?utm_content=telegraph&utm_medium=Social&utm_campaign=Echobox&utm_source=Facebook&fbclid=IwAR0JqNc5gT28W-ZO3iiTQ460dmQBMhOJCdknZl8PxgvWfb6Ack-cDlBg8a4#Echobox=1677398830

Ivonne Holliday ● 1072d4 Comments

An iconic building.

Philippa Bond ● 1072d

It could be many reasons. Putting aside things like cost (apparently it is very expensive to maintain) a lot of companies these days want to concentrate on their core business which in this case is insurance not owning and managing buildings.

Ed Robinson ● 1072d

Why is the building not owned by Lloyds of London?

Ivonne Holliday ● 1072d

"I find it rather offensive, if that is the word, that the building is owned by a Chinese firm!"Why is it offensive?Would it make a difference if it was owned by a US company?

Ed Robinson ● 1072d