Apple will shift its European headquarters from Paris to London when it becomes the first tenant at Crown Estate’s and Stanhope’s 1 Hanover Street in Mayfair, W1, in 2005.
The computer and software company has taken 25,800 sq ft of office space for about £65 per sq ft. It signed a 15-year lease with a 10-year break and a rent-free period of just over a year.
The US-based business will occupy the second floor of the 121,000 sq ft (11,240 sq m) building and is expected to complete its move before next summer.
The recently developed offices sit on top of Apple’s 22,000 sq ft store at the Crown Estate’s 235-241 Regent Street, which opened two weeks ago as its first European retail outlet. It is paying about £45 per sq ft.
Apple is considering options to link the retail and office components, which do not have internal access to each other.
Cushman & Wakefield Healey & Baker acted for Apple; CBRE and Jones Lang LaSalle for the Crown and Stanhope.
References: EGi News 06/12/04
