Regus reopens bank centre

One year after the collapse of Lehman Brothers, the bank's former conference centre in the City reopened for business today under new management.

Office firm Regus runs the revamped site in Broadgate Circle, near Liverpool Street train station.

A spokesman for Regus, which specialises in offering short-term managed office space, said: "We have spent in the region of £100,000 bringing the space back up to standard with a new telephone system and furniture." Other facilities include a 200-seater conference room and business lounge.

Lehman Brothers previously leased 338,000 square feet of space in the Broadgate estate for an annual rent of £15.8 million, although the US bank had sublet almost 80% of those rented offices.

Broadgate's landlord, British Land, was able to keep on most of Lehman's sub-tenants, which included UBS and ICAP, after the bank went into administration and failed to pay the rent.