British Land has submitted its blueprint for a new office HQ for UBS.
The planning application for the banking giant’s headquarters would take in some 700,000 square feet and would be located at 5 Broadgate in the City of London.
The project would see UBS relocate its all its trading divisions in a single four-floor building and is being seen by many as a further sign of recovering sentiment in the London commercial property sector.
Of the 6,000 staff to be housed there, some 3,000 will be traders whose business will be conducted on a 64,000 sq ft trading floor.
British Land stated: “This new building also represents a further stage in the successful evolution of the Broadgate office estate and the retention of one of the world’s leading investment banks in the heart of the City of London.”
Completion of the development is expected around 2014.