In a letter to all staff John Ridding, CEO FT Group, wrote:
Dear all,
On behalf of the FT board and Nikkei, I am delighted to let you know that we will be returning to our former home of Bracken House in the City of London.
Some of us started our FT careers there and can testify to its special place in the FT’s history and, now, in our future. We will be able to create and design an environment that supports our business and provides our people with long-term security following our necessary departure from OSB.
I want to give special thanks to the leadership at Nikkei who moved strongly and quickly to help us secure this move. It is a clear example of their confidence in the future of the FT and their commitment to supporting us.
We had initiated a property review over a year ago, mindful of the ageing infrastructure of OSB. That process was accelerated by the sale of the FT, and the return of the building to Pearson. Having reviewed our options throughout that period, I can say that Bracken House is by some distance the best option available.
There is, of course, rich history and symbolism in our return. The Grade II listed building, southeast of St Paul’s Cathedral, is named after the FT’s founder, Lord Brendan Bracken. It was originally designed by the leading English architect Sir Albert Richardson in the late 1950s to house the FT’s expanding news organisation. Distinct pink Hollington sandstone from Staffordshire was used as building material to match the colour of the FT’s pages. The building underwent a significant renovation during 1988-1992 after the FT’s move to OSB, winning awards for its design.
No less important, though, Bracken House will be a foundation for our future. By the time we return, which is planned for 2018, the building will have undergone another extensive refurbishment and will be tailored to meet the needs of our dynamic media organisation. That will include an open layout, brighter surroundings, digital-friendly features and infrastructure, and a roof-top garden for staff and events.
Nikkei will be renting the building from the Obayashi Corporation, who acquired the building from Pearson in 1987. While financial figures are confidential, the cost is competitive and comparable with OSB.
There is obviously much work to be done on such a major project – and we will be consulting with staff on key issues of design and layout. I am sure you will have many questions through the process, and we will keep you regularly informed of news and progress.
I also include a note below to all of you from Nikkei Chairman & Group CEO Tsuneo Kita on this historic occasion.
Best wishes,
John
John Ridding
CEO FT Group
