Charles Taylor appoints GN2 and launches 80,000 sq ft City search

UK insurance giant Charles Taylor has launched a requirement for a new City of London headquarters of up to 80,000 sq ft, CoStar News can reveal.

Central London property adviser GN2 has won a competitive pitch to advise the firm on the search, which will see it consolidate its four London offices.

GN2’s brief is to look for 60,000 to 80,000 sq ft, which will build in expansion space for the firm’s future growth. Charles Taylor is currently based in around 61,000 sq ft, occupying 20,710 sq ft in Lloyds Chambers at 1 Porksoken Street, E1 (pictured) on a lease which expires in 2018; and 16,341 sq ft at 88 Leadenhall Street, EC3, on a lease which expires in 2019. The firm also occupies 24,307 sq ft at 12-13 Essex Street, WC2.

Charles Taylor invited seven agents to pitch for the mandate earlier this year before shortlisting Cushman & Wakefield, Colliers International and GN2. Julie Rees, managing partner at GN2, is understood to be leading the search, which will be begin towards the end of this year.

Charles Taylor will focus its search on the Square Mile and will seek pre-let or built stock and rents from mid-£50s per sq ft to over £60 per sq ft. The hunt for its new office will house around 600 staff initially, rising to 800 with expansion.