Move to be completed in 2010

Lockton has agreed a 20-year lease at a new European Headquarters at UK property developer Minerva’s St Botolph's site.

The development, which will see the broker occupying 84,000 square feet of office space, will be completed in 2010.

The site is just 500 yards from the firm’s current offices at Lockton House, 6 Bevis Marks.

Commenting on the announcement, Mike Hammond, Lockton International chairman, said: "We are very pleased to have reached an agreement with Minerva. The move to a new landmark building at the heart of the City of London underpins our strategy to serve our UK and international clients more efficiently and effectively.

"We are passionate about client service and developing Lockton’s Associates which is the group’s greatest corporate asset. This relocation is a major investment in our people and will reinforce our growing reputation as the world’s largest privately held, independent insurance broker."

The development at St Botolph's is part of a 560,000 sq ft, high quality, Grade A office and retail accommodation plan.