BT reveals new City headquarters as it plans to move by end of 2021
BT will move its headquarters to a new site in the City following the £210m sale of its London offices last week.
Read more: BT agrees £210m sale of London headquarters
The telecoms firm said its new headquarters will be based in a new 320,000 square foot building near Aldgate East station at 1 Braham Street, London, E1 8EP.
It follows the sale of the BT Centre overlooking St Paul’s to Orion Capital for £210m. The deal includes a 30-month leaseback period during which the firm will move to its new base.
“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 chief executive Philip Jansen.
“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 move comes as part of a wider transformation programme at BT, which will shut offices and slash thousands of jobs in a bid to cut £1.5bn in costs.
Paul Molloy, leasing director for Aldgate Developments, which owns the building, 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.”
Read more: BT may cut dividend to fund full-fibre rollout
BT said it expects to move into the new offices by the end of 2021, at which point it will rename the building.
Main image credit: Aldgate Developments