Andersen Consulting drops plan for new home

Six months before the consultancy firm was due to move in, bosses have pulled the plug on the planned 15-year lease at the Lord Foster-designed building.

The spectacular glass building is being constructed on the former Daily Mirror site at Holborn Circus is London.

AC claimed a ‘total victory’ when it separated from AA last month after an arbitration process lasting more than two years. But divorce arbitraor Dr Guillermo Gamba, ruled AC would have to surrender its name.

The decision prompted speculation that AC cancelled the move so as to lighten the financial load prior to a floatation, a point denied by the consultancy.

According to a report in Property Week the full 15-year liability could have been as much as £172m.

Taking Stock – I spy with my little eye, something beginning AC

Taking Stock – No fisticuffs for Andersens staff

The Andersen break-up

Related reading