Savills is to move its UK headquarters to Great Portland Estates’ redevelopment of Marcol House, north of Oxford Street.
The agent will move its West End teams, based at offices in Lansdowne House and Grosvenor Hill, to the new premises at 33 Margaret Street, W1, in early 2013.
It will occupy most of the building, taking five floors, equating to around 64,000 sq ft, and will become the latest in a steady stream of firms to move out of the traditional agency heartland in Mayfair.
Savills’ chief executive officer, Jeremy Helsby, said: “This pre-letting of 33 Margaret Street is a strong expression of confidence in the growth of the Savills business, and in London as a global financial centre.”
The agent will take five separate 20-year leases of the ground to part of the fifth floors, totaling 64,142 sq ft, and will pay an initial rent of £4.4m pa after a 30-month rent-free period.
GPE was advised by H2SO and Knight Frank. Savills represented itself.
