De Beers has instructed BNP Paribas to sell its London headquarters, EC1, for around £100m, signalling the end of an era for the world’s biggest diamond company.
The circa 110,000 sq ft offices at 17 Charterhouse Street, where 1,500 people were once employed to sort gems from around the world, will be sold along with 27 flats totalling 20,000 sq ft.
The estate, which will be sold as vacant possession, also includes a rooftop helipad and is around the corner from the Hatton Garden diamond district.
The sale forms part of a major asset disposal programme at Anglo American, which owns De Beers and posted a $5.6bn (£4.3bn) loss for 2015 – the largest in its history.
De Beers has already told staff they will be moving to Anglo American’s head office at 20-24 Carlton House Terrace, SW1. It is understood the move will take place in the first quarter of 2017.
Founded in South Africa in 1888, De Beers moved its HQ to London’s diamond district in the 1930s. Staffing levels have fallen to around 300 since the sorting and sales function moved to Gaborone, Botswana, in 2013.
BNP Paribas’ instruction was made in the past few weeks following a pitching process with multiple agents.
