BT has confirmed plans to relocate to Aldgate Developments’ One Braham following the sale of its existing London headquarters to Orion Capital Managers for £209.55 million.

The telecoms giant has been housed in its famous headquarters at 81 Newgate Street for almost 35 years, but has now confirmed that the BT Centre is no longer fit for purpose given the vast technological advancements that have happened since the firm moved in.

BT currently has a 30-month leaseback agreement with new landlord Orion, and is expected to complete the move to the new building by the end of 2021. The new headquarters will be comprised of 325,000 sq ft of space over 18 floors.

According to BT chief executive Philip Jansen: “We’ve been headquartered in BT Centre for nearly 35 years and we’ve been looking for a building in central London that will be the home of BT for the next 35 or more. The 18 floors of our new headquarters will do just that… Between now and moving into the building we’ll be working with architects, designers and – most importantly – our colleagues, to make sure it’s the home the business wants and needs.”

While Aldgate Developments leasing director Paul Molloy says: “Aldgate Developments and our partners are delighted to welcome BT to One Braham for their new corporate headquarters. They could not have picked a more exciting and dynamic location in Central London… BT have recognised the quality that Aldgate Developments and our world class team deliver in our buildings. We look forward to bringing more offices to the market in London and Dublin in the near future, and to working with BT to make them very happy in their new home.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.