The owner of Christian Dior perfumes is leaving its London headquarters on Oxford Street for a new development in Kensington, W8.
LVMH Perfumes & Cosmetics, which makes Dior, Givenchy and Guerlain fragrances, is under offer on as much as 30,000 sq ft at Lancer Square, CIT’s recently completed scheme on Church Street.
Built on the site of the former Kensington Palace kitchen gardens, the Squire & Partners-designed block is part of a mixed-use development containing 220,000 sq ft of residential, office and retail space.
CIT was appointed development manager on the scheme in 2016 by LGB Group, a Malaysian conglomerate. Its property arm, Bellworth Developments, owns the scheme via a further subsidiary, Chessington Investments.
The office segment contains 47,800 sq ft of workspace set across the lower ground, ground and five upper floors, and includes two private roof terraces on the fourth and fifth floors.
Lancer Square reached practical completion last summer. CIT’s head of sales and marketing, Chris Richmond, said it was designed to be “an internationally recognised prestige destination”.
Last month, LVMH reported its perfumes and cosmetics arm recorded a 27% year-on-year rise in revenue in 2021 to €6.6bn (£5.5bn), almost equal to pre-pandemic levels.
JLL is the leasing agent on the office block; Harper Dennis Hobbs is advising LVMH. All parties declined to comment.
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