Volvo Cars is looking to reduce its headquarters by 50% by either renegotiating with its Bucks landlord or relocating.
The motor company said it has completed a study of whether to combine its 48,000 sq ft Marlow HQ and its 50,000 sq ft Daventry training centre.
It has decided to keep the operations separate, but look for a 20,000-25,000 sq ft HQ in preparation for the expiry of its lease expires at the end of 2012.
A Volvo spokesman said: “We have been through a period of moving people around, with many relocating to Sweden, so no longer need our current requirement. We are looking at new sites within a 15-minute circumference of Marlow, as well as the possibility of a new, smaller contract at the current building.”
He added that a decision is expected by the end of the year.
Cushman & Wakefield is advising Volvo.
joanna.bourke@estatesgazette.com
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