Business Maverick: BP to Sell London Headquarters as Work Style Shifts: Times

BP Plc major, which employs 6,500 office staff in the U.K., plans to rent back the building on St. James’s Square from the new owner for as long as two years before leaving for good, the newspaper said, without citing anyone. BP declined to comment on the report.

BP joins other employers that are changing their work styles after many employees began working at home due to the coronavirus pandemic. Chief Executive Officer Bernard Looney has said the company will move to a mixture of home and office working.The plan highlights the uncertainty the property market is facing as the coronavirus sent office workers to setups in their kitchens or living rooms, emptying towers in the City and Canary Wharf business centers and elsewhere across London.

Only 13% of people were back to their offices this month in London. Across the nation’s 63 biggest urban centers the number was 17%, the newspaper said, citing analysis of mobile phone data. The building, which BP bought for 117 million pounds in 2001, could be priced at more than 300 million pounds today, the newspaper said.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: Dread disease cover has become more critical than everCritical illness cover or dread disease insurance is a lump-sum cover that pays out on the diagnosis of a severe ailment such as cancer or heart disease. It is a risk-benefit that has only been available since the 1980s, but has grown in relevance as people are living much longer than in the past. Yet the uptake has been less prominent.
Source: dailymaverick - 🏆 3. / 84 Read more »