Colliers International is looking to slash the size of its West End headquarters by up to 60%.
The agent has launched an 18,000 sq ft requirement for a building to house its West End, industrial and healthcare teams.
The agent’s City team will remain at Tower 42, EC2, where it occupies 3,000 sq ft.
The new West End HQ will replace the 26,395 sq ft Colliers has at 9 Marylebone Lane, and 18,460 sq ft it occupies at 72 Welbeck Street, both W1. Colliers expanded out of its main HQ at Marylebone Lane into Welbeck Street in 2004 to cope with the acceleration in the growth of its business.
Leases on both properties expire in 2014.
One source said: “It was never the ideal to have two offices in such close proximity, and headcount has reduced over the years. Having all West End staff under one roof has been envisaged for some time.”
Since the credit crunch began, staff numbers at Colliers UK have fallen by almost one-fifth to 696, according to the firm’s most recent filed accounts.
The agent was bought by its majority shareholder, FirstService, for £13.8m in March in a pre-pack administration deal.
joanna.bourke@estatesgazette.com
