The Financial Times is moving back to its original home in the City after almost 20 years at their current offices on Southwark Bridge.
Bracken House at 10 Cannon Street was built in the 1950s and served as the FT’s headquarters and printing works until 1989, when the newspaper group moved across the River Thames to One Southwark Bridge.
The building was designed by Sir Albert Richardson used pink Hollington sandstone to match the colour of the FT’s pages and is named after the newspaper’s founder Lord Brendan Bracken.
The FT’s new owners, Nikkei, will rent and refurbish Bracken House from Japanese construction firm Obayashi Corporation, which bought the building from Pearson when it moved.
The revamp will take place before the group relocates in 2018.
John Ridding, the chief executive of the Financial Times, wrote in an email to staff: “We had initiated a property review over a year ago, mindful of the ageing infrastructure of One Southwark Bridge.
“That process was accelerated by the sale of the FT, and the return of the building to Pearson. Having reviewed our options throughout the period, I can say that Bracken House is by some distance the best option available.”
CBRE and JLL are acting as joint agents for Obayashi.