Real estate investor Hines has chosen a Covent Garden office bought by one of its funds earlier this year as its new UK headquarters.
The company has taken a 15-year lease for 36,000 sq ft across three floors at Grain House on Drury Lane, WC2, which Hines European Value Fund 2 bought from clients of Savills Investment Management in March.
The site has planning consent for a new development that will bring together four interlinked period buildings into one office scheme with street-level restaurant and retail amenities. It is expected to complete in 2023.
Hines will move from 5 Welbeck Street, W1, and make Grain House the new headquarters for Hines UK and Hines Europe.
Ross Blair, head of Hines UK, said: “As with most companies, whether in real estate or any sector, the office is hugely important to the success of our business and performance and wellbeing of our team. While the extended period of remote working has demonstrated the adaptability and continuity of day-to-day operations, it has also highlighted the fundamental need to bring people together to interact, engage, be creative and inspire face-to-face.”
Hines European Value Fund 2 was represented by Colliers International; Hines was advised by Edward Charles & Partners.
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
