SCOR secures office space at one of London's newest skyscrapers

SCOR secures office space at one of London’s newest skyscrapers | Insurance Business Asia

Reinsurance

SCOR secures office space at one of London’s newest skyscrapers

The firm will occupy two-and-a-half floors at the 10th largest tower in the capital

Reinsurance

By
Kenneth Araullo

The London skyline’s latest addition, 8 Bishopsgate, a 51-story skyscraper, is witnessing an influx of new tenants, with reinsurer SCOR securing a significant portion of the building.

As per a report from City AM, SCOR has leased two-and-a-half floors, encompassing 50,000 square feet, in this towering structure which stands 204 meters tall and ranks as the 10th largest skyscraper in London.

The reinsurance provider’s commitment to the new tower, located in the heart of the Square Mile, is evidenced by its 15-year lease agreement with Mitsubishi Estate London and Stanhope. The move comes amid a fluctuating office occupancy rate in London, post-pandemic, as many workers in the city have shifted towards hybrid work models. The decline in flexible workspace solutions like WeWork is also giving rise to more stable, long-term office arrangements.

Thierry Léger, the CEO of SCOR, commented on the acquisition, stating that the move to 8 Bishopsgate is reflective of the company’s commitment to enhancing team collaboration by consolidating its employees in a single location.

“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,” Léger said.

Shinichi Kagitomi, the managing director of Mitsubishi Estate London, also remarked on the addition of SCOR as a significant indicator of 8 Bishopsgate’s growing status as a premier workplace destination in London.

What are your thoughts on this story? Please feel free to share your comments below.