The world’s fourth-largest beauty group, Estée Lauder, has instructed agents to find it a new 80,000 sq ft central London headquarters.
The US cosmetics giant has long mooted plans for consolidating its smaller London offices into one block.
With a raft of lease expiries in 2015, it has now appointed Knight Frank to help it secure a HQ. The agent beat rivals including CBRE, H2SO and Jones Lang LaSalle to the pitch.
Estée Lauder wants to expand from around 50,000 sq ft across the capital, including 73-75 Grosvenor Street, W1, and 193-197 High Holborn, WC1.
One source said: “From initial talks with Estée Lauder, it is willing to explore options across central London, including King’s Cross. It’s not limiting itself to its traditional West End home.”
The expansion plans come after the group posted record net sales of £6.5bn in the year to 30 June. The UK, alongside North America, was named as an area that experienced growth.
Estée Lauder joins a host of other companies that have recently launched new London office requirements, including GL Hearn, which is searching for 9,000 sq ft.
Santander, which is advised by Jones Lang LaSalle, is also believed to be looking for ?surplus office space.
joanna.bourke@estatesgazette.com
