Pearson, the former owner of the Financial Times, has said it is exploring options for two of its London properties, including its headquarters at 80 Strand, WC2.
The digital education firm confirmed it was considering subleasing 80 Strand and finding an alternative location for itself, or transferring its entire leasing commitment at the building to an investor, in a deal that would also include 1 Southwark Bridge, SE1, for which it owns the freehold.
Pearson said it was also considering marketing 1 Southwark Bridge for sale or redevelopment as the FT, which it sold in 2015 to Japanese media company Nikkei, is due to fully vacate the building in 2019 for its new offices at Obayashi Corporation’s Bracken House, EC4.
Last year the company appointed Gryphon Property Partners to advise on its central London holdings.
Pearson added that if none of the options it is currently exploring come to fruition, then the company will remain headquartered at 80 Strand and review its options again at later date.
190 High Holborn, WC1, where Pearson College is based, is likely to remain a key location for the company.
Ben Almond, global head of property at Pearson, said: “We continue to explore opportunities to reduce our property portfolio as part of plans to simplify Pearson.
“We are committed to a London HQ and, while at an early stage with no decisions made, a key priority is to ensure we have a great office space and facilities that provide a great working experience for all our people.”
Pearson is aiming to reduce its global real estate holdings to less than 100 office locations by 2020 as part of a restructuring programme that began last year to turn it into a leaners and more agile business.
In 2014 the company had 200 office locations worldwide.
Pearson said the property review was not linked to any further headcount reductions.
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