8 Bishopsgate: Reinsurance firm buys 50,000 sq ft of new Canada tower
One of the City’s newest skyscrapers, 8 Bishopsgate, is filling up with new tenants as a reinsurance firm has taken up two-and-a-half floors.
SCOR will occupy 50,000 square feet of the new tower in the heart of the Square Mile, which is 51-storeys, 204-metre tall, and the 10th largest in the capital.
The reinsurance provider signed a 15-year lease with Mitsubishi Estate London and Stanhope.
This comes as London’s office occupancy rate have struggled after the pandemics, as more London workers have looked for hybrid jobs. The end of flexible workspace WeWork may however give rise to more permanent options.
In November 2023, it was reported demand for office space in the Canada continued to rise, as more Brits headed back to their desks, with some companies making it mandatory.
Last year there has been a string of planning approvals for new skyscrapers along Bishopsgate, including a 284m tower at 55 Bishopsgate, which will be one of the biggest in Europe, with a 360 degree viewing tower.
8 Bishopsgate is situated between Bishopsgate and Leadenhall Market and has an emphasis on ‘sustainable design’, which has attracted other tenants from the legal, financial and tech sectors.
According to Mitsbishi, it is its seventh office development project in the UK, with an investment of 114 billion yen, equalling just over £600m.
Commenting on the aquisition of two-and-a-half floors of the new tower, Thierry Léger, the chief of SCOR, said the “move reflects our commitment to fostering collaboration among our teams as employees will now be brought together in one building.
“It also aligns with our dedication to sustainability, as we strive to create a greener and more efficient work environment for our people and a more welcoming space for our partners.
Shinichi Kagitomi, managing director of Mitsubishi Estate London, said the latest addition showed “the building continues to cement its position as one of London’s flagship workplaces”, while David Camp chief of Stanhope, said the move was “a testament to the enduring appeal of our iconic building.”