Bloomberg L.P. Announces Agreement for New Building in City of London Bloomberg expands European operations Bloomberg to team with renowned architects Foster + Partners to build a technologically and environmentally advanced building in the heart of the City of London Business Wire LONDON -- December 06, 2010 Bloomberg L.P., a leading financial information services and media company, today announced that it has reached an agreement with Legal and General for the purchase of the Walbrook Square site to build a new European headquarters located in the heart of the City of London. The agreement means Bloomberg L.P. will construct two new buildings, one that will contain in excess of 500,000 square feet/46,5000 square meters of office space to accommodate Bloomberg's growth, and one speculative building. The site, which is 3.2 acres, will also accommodate generous public spaces and retail. The company also announced it is working with renowned architect Norman Foster of Foster + Partners on plans for the building, which are in the early stages of development. Foster said the following about his partnership with Bloomberg: “The project is an opportunity to create a bespoke, sustainable new headquarters building for Bloomberg, while at the same time creating an opportunity to improve the public realm in the very heart of the City of London. The history of London is the story of change, and each age makes its own mark – our approach respects the history of the site and the challenge of adding to the City’s rich heritage and unique character. We aim to create a building that will be of its time and place, whilst establishing a distinctive presence for Bloomberg. I am delighted to be personally involved and look forward to working with Bloomberg and the City of London on this exciting project.” Bloomberg's current London headquarters, a portion of which was also designed by Lord Foster, is located at Finsbury Square, and has served as the company's hub for Europe since 1987. It has been expanded several times and now houses more than 2,300 employees. “Bloomberg's London headquarters has always been an integral part of the company," said Peter Grauer, Chairman of Bloomberg L.P. “This new project underscores our commitment to London and to expanding our presence in this world-class financial capital.” Bloomberg continues to expand its information business around the world, with the company expected to reach 300,000 terminal subscribers in January 2011. London provides a central location from which to support the company's European business, which constitutes nearly 40% of total revenues. “Walbrook Square is one of the prime locations in London," said Daniel Doctoroff, President of Bloomberg L.P. "Our commitment to excellence in design will ensure that we create something exciting and yet respectful - especially given the site's proximity to the Bank of England, St. Paul's and Mansion House, among other London landmarks." Stuart Fraser, Chairman of Policy for the City of London Corporation, welcomed the announcement: "We very much welcome Bloomberg to the Square Mile. We view this decision to retain their European headquarters in London as a vote of confidence in the City and our position as one of the world's leading international financial centres." Tishman Speyer, a company with a long relationship with Bloomberg, has been selected as the company's development manager for the project. Pending planning approvals, construction of the new London headquarters is tentatively scheduled to begin in early 2012, and is expected to be completed in 2015. About Bloomberg Bloomberg is the world’s most trusted source of information for financial professionals and businesses. Bloomberg combines innovative technology with unmatched analytics, data, news, and display and distribution capabilities, to deliver critical information via the Bloomberg Professional service and multimedia platforms. Bloomberg's media properties span television, radio, digital and print, making up one of the world’s largest news organizations with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries. Contact: Bloomberg LP Sarah Feinberg, +1-202-654-4360 firstname.lastname@example.org
Bloomberg L.P. Announces Agreement for New Building in City of
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