Reuters, the news and information group, will get £32.3m (€46.6m) from the sale of its Fleet Street headquarters when it moves to a new building in Canary Wharf and will save an additional £5m a year in property costs.

Tom Glocer, chief executive of Reuters, whose profits have been slashed over the past three years, said the majority of the company's London-based staff will move to one building in Canary Wharf in spring 2005.