Report : Wells Fargo To Pay GBP 300 Mln For City Of London Office

(RTTNews) - Wells Fargo & Co. (WFC) will pay about 300 million pounds or $397 million to acquire a new London headquarters enabling the U.S. bank to increase its presence in the U.K. capital, Bloomberg reported citing two people familiar with the matter.

The building, known as 33 Central, is due to be completed in the third quarter of 2017, according to a statement on Monday from the developer HB Reavis Group. The property in the City of London district would have room for about 2,600 people. Wells Fargo employs 850 people across four London office properties and plans to occupy all of the new building.