PwC preps new London office hunt

Accountancy firm PwC is in the early stages of exploring new options for its London office space. The firm has issued a request for information to agencies to advise it on the future of its office portfolio in the capital. In London, the firm has offices at 1 Embankment Place, WC2, and 7 More London Riverside, SE1, with more than 900,000 sq ft of space across the two. A spokesman for the firm told EG: “We have no plans to go anywhere any time soon – we are looking ahead to the 2030s when our leases expire and exploring options, which will include staying in current properties. “Our London office footprint is core to our business and, given the London property cycle, early forward planning is essential.” The firm did not comment on whether a move would see it consolidate or downsize offices. Last year it announced job cuts that affected about 2.4% of its workforce. The professional services sector accounted for 23% of central London office take-up last year, according to JLL, behind banking and finance at 25% and the service industry at 27%. Image © Vuk Valcic/SOPA Images/Shutterstock