Pharmaceutical giant Glaxo Wellcome has chosen 34 Berkeley Square, W1, for its new HQ.
It has paid an overseas investor £2.2m for a 36-year lease on the 410m2 (4,450 sq ft) self-contained building. The price is equivalent to a rent of £484 per m2 (£45 per sq ft) off a 6.5% yield.
The company plans to move out of its existing premises in Landsdowne House, also in Berkeley Square, and relocate most of its staff to the firm’s offices in Greenford, Middlesex.
Godfrey Vaughan advised the vendor. Glaxo Wellcome was unrepresented.
