Argus Property Limited has sought final Planning permission to build a new seven-storey office building on Wesley Street near the City Hall car park.

Argus Property Limited, care of The Argus Group also has designs on demolishing an existing warehouse on Lot No. 32 on Wesley Street, in order to make way for their new high-rise.

?Due to the continuing expansion of the Argus Group, we have outgrown our current accommodation,? Gerald Simons, president and chief executive officer of the Argus Group explained in a Press release.

?We are delighted that plans are well advanced for the construction of our new headquarters. The new office has been designed to be an inspiring and creative place to work while offering flexibility to meet the needs of the company in the future.?

Argus Insurance Company Limited and its subsidiaries make up the Island?s largest Bermuda-owned insurance company. Argus was founded in 1950.

The new office building will be adjacent to the current Argus Group headquarters and Craig Appin House where all 135 Argus employees are currently accommodated, the release said.

The new Argus Building will extend from Wesley Street through to Trott Road.

Pending Planning approval, construction of the 60,700 square foot building is scheduled to start early in 2006 and the Argus Group said it hopes to have the project completed by late 2007.

Argus said it is working with design architects Conyers & Associates, contract architects Butterworth Associates and interior designers Murdoch Design on the project.

?The new Argus Building will have an aesthetic image of permanence and timelessness through the use on the exterior of the fundamental elements of stone, glass and stainless steel,? Harold Conyers, managing director of Conyers & Associates said.

?The stone cladding is intended to be a camel tone that will change colour with the sunlight. The glass is energy efficient in a light aquamarine colour to evoke the image of the ocean that surrounds Bermuda.?