Goldman said in light fight

Boxing Gloves

And all over 'the right to light'.

Goldman Sachs's new headquarters in London is facing a possible legal challenge from the owners of neighbouring buildings - who claim the proposed office will steal their light.

The Independent reports the US investment bank is pushing ahead with plans to build a glass-fronted 850,000 sq ft office on a site on Farringdon Street in the City, just around the corner from its current HQ in Fleet Street. The plans involve demolishing two unoccupied buildings.

But it has now emerged that two of the UK's largest pension fund managers - which own properties either side of the redevelopment - claim that Goldman's proposals would affect their 'right to light'.

Aberdeen Asset Management and Royal London Asset Management (RLAM) are demanding compensation for the loss of illumination - and could take legal action if they are not satisfied with the final sum offered.

Following mediation with the City of London planning authorities, Goldman offered to pay £1.2m to each of the two firms to compensate their loss of light, Estates Gazette property magazine reported.

Hit the link below to access the complete Independent article:

Goldman Sachs's new London HQ facing legal challenge from neighbours over their 'right to light'

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