American Express is considering its options over a potential London office move.
The New York-headquartered firm has been located at Belgrave House, 76 Buckingham Palace Road, SW1, since 2006.
It occupies around 130,000 sq ft across the basement ground first and second floors paying on average around £46 per sq ft, according to Radius Data Exchange, and has a lease expiry in 2021.
The other tenant in the building, which is owned by the Teachers Pension Fund of America and Resolution, is Google, which occupies the 3rd, 4th and 5th floors.
CBRE is understood to be advising American Express on its search.
American Express is part of a growing list of occupiers weighing up their options, including several law firms such as Kirkland & Ellis and White & Case, in central London at a point when the development pipeline is constrained.
CBRE reports, in its latest report on the central London office market, that at the end of January 12.4m sq ft of office space was under construction across the capital, of which 56% is already let or under offer, while active requirements hit 7.8m sq ft.
A spokesperson for American Express said: “As an employer with colleagues based in London, we evaluate our London real estate strategy on an ongoing basis and regularly undertake market assessments.”
CBRE declined to comment.
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