Capita Symonds Real Estate is relocating its markets and property services arms to 125 Shaftesbury Avenue, WC2, as part of consolidation plans.
The company is sub-letting 19,300 sq ft at the property on a two-year lease, paying £37 per sq ft. It moves in February when its lease at 25 Sackville Street, W1 expires.
The move to the 143,804 sq ft building – where MEPC holds the freehold, and Blackrock Investment Management has the leasehold – is part of Capita’s plan to consolidate all of the firm’s London operations under one 60,000 sq ft roof by 2014.
The property consolidation ties in with the expiry of the firm’s largest office at Procter Street, WC1, where it occupies 25,021 sq ft.
Alan Dornford, director of markets for Capita, said: “We are taking a flexible view on location – anywhere in central London is currently being considered – and it can be a newly developed property or existing building earmarked for refurbishment.”
He added: “It is critical that Capita Symonds new London headquarters can facilitate new ways of working.”
DTZ advised the landlord. Capita Symonds represented itself.
The Sackville office move follows the co-location of the two Manchester offices into the Observatory in Manchester city centre, and will be followed by new premises in spring 2012 for the Capita Symonds’ Edinburgh office.
joanna.bourke@estatesgazette.com
