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Barings leases office space at 20 Old Bailey

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Barings has agreed to lease 113,000 sq ft of prime redeveloped office space across six floors at 20 Old Bailey, owned by Blackstone, in the City of London. 

Barings will consolidate its current existing London offices at 155 Bishopsgate, 61 Aldwych and 11a Regent Street into a single office at 20 Old Bailey, following the merger of Babson Capital Management, Baring Asset Management, Cornerstone Real Estate Advisers and Wood Creek Capital Management under the Barings brand in September this year. 
 
Tom Finke, Barings’ chairman and chief executive officer, says: “One of our strategic priorities since the merger announcement has been to find suitable office space to bring together our London employees and to fully utilise the synergies of the new Barings. Being in one location allows our associates to share a common culture and work together as one team to serve our clients’ needs.” 
 
Ed Hodgson, director for Blackstone Property Management, says: “The City is undergoing major change as media and technology companies now sit alongside the traditional legal and financial occupiers. The growth of the arts, retail and restaurant offering is also creating a vibrant, more diverse environment which is exemplified by the evolution of 20 Old Bailey.
 
“Following extensive renovations, the building is being transformed into flexible, modern contemporary workspace to meet the changing dynamic of the City, and securing such a major pre-let at this stage of the redevelopment with a great business such as Barings demonstrates the occupier appeal of 20 Old Bailey.”
 
Office design will begin in 2017 and Barings’ employees are expected to move into the new offices by June 2018.
 
BNP Paribas and CBRE are the joint leasing agents for Blackstone, GM Real Estate acted for Barings.

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