The property comprises a building of masonry construction arranged over seven floors, providing high quality office accommodation. In October 2006, part demolition of the existing buildings commenced, and following detailed planning consent for a new headquarters office building, construction of the new Rex Building commenced in May 2007. The scheme includes part façade retention and was completed in November 2008. The property is located on the east side of Queen Street, south of the junction with Cannon Street. Cannon Street, Mansion House and Bank underground stations are within close proximity.