Online auction firm eBay is considering quitting its HQ in Richmond, Surrey, for a new base in the West End.
The UK arm of the US giant has appointed DTZ to find it as much as 100,000 sq ft of offices in the capital. Its lease on Exemplar Properties’ Richmond Riverside, where it occupies 60,000 sq ft and has been based for 10 years, is due to expire in June next year. It pays around £37 per sq ft at the building.
The push for more space follows a bumper 2011 for eBay, which reported a 27% increase in full-year revenue to $11.7bn (£7.4bn) and profit of $3.2bn. It expects turnover to increase to between $13.7bn and $14bn in 2012.
Agents said that the increased revenue meant the firm was more willing to pay for more attractive prime space in the West End.
“Its worth in monetary terms has more than grown over the last decade,” said one. “It is one of a few companies that would move to improve its appearance and attract bright new talent.”
? Emap has begun a frantic search for up to 70,000 sq ft after online fashion retailer Asos swooped in to take over its space at Greater London House, NW1.
The publisher has instructed Cushman & Wakefield to find it new offices ahead of its lease expiry at the 330,000 sq ft Lazari Investments building in June 2013. Asos currently occupies 25,354 sq ft in the building but has signed a deal to take over Emap’s 90,000 sq ft.
Knight Frank advises Asos.
joanna.bourke@estatesgazette.com
