MEPC has stepped up its search for a new headquarters by appointing Knight Frank to draw up a shortlist of suitable offices and advise on the disposal of its existing building at St James’s Square.
Top of the list is Hermes’ Nations House at 103 Wigmore Street, W1, but the property company is also understood to have looked at Land Securities’ 40 Strand, W1; and Arcona’s Times Place at 45 Pall Mall, W1.
In March, chief executive James Tuckey announced MEPC was planning to leave its opulent St James’s Square headquarters as part of a package to cut costs and improve efficiency. At the time Tuckey said he was looking for offices of around 2,790 – 3,720 sq m (30,000 – 40,000 sq ft).
MEPC is not yet formally marketing the 4,650 sq m (50,000 sq ft) St James’s building which it developed itself and moved into in 1991. However, it is thought likely that MEPC will retain the freehold.
Neither MEPC nor Knight Frank would comment.
EGi News 31/07/97
