Tech consulting firms Ascential and Tata Consultancy Services (TCS) are hunting for a combined 75,000 sq ft of office space in the West End, in a pair of requirements which would represent two of the area’s biggest leasing deals this year.
TCS, an Indian multinational information technology services company, is looking for 40,000 sq ft of office space for its London headquarters.
It currently has premises in Kensington, at 2 Derry Street, W8, but has hired JLL to help find a new office as it targets a partial return to the workplace in the fourth quarter of this year.
TCS is part of the broader Tata conglomerate, founded in 1868 in Mumbai, and also has steel, energy and automotive arms among others. Tata Automotive owns the British car brand Jaguar.
Ascential, a FTSE 250 specialist information, data and e-commerce optimisation company, has instructed agents at Cushman & Wakefield to find 35,000 sq ft of office space.
The company saw revenue plummet by nearly a third during the pandemic, as its product design, marketing and events businesses suffered sizable losses.
However, it too is looking forward to a post-Covid return to the office, and is carrying out viewings in the area around its premises at Twenty Air Street, just behind Piccadilly Circus, W1.
The tech and media sector accounted for just under a quarter of office demand in the West End at the end of July according to data from Savills, with TCS and Ascential making up a significant chunk of that.
Since the end of April 2021, active requirements in the West End have increased by an average of 8% every month, to reach 5.8m sq ft as at the end of July, the agency added.
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