Snowflake leads flurry of HQ searches

  A mystery 60,000 sq ft requirement codenamed Project Snowflake has been revealed to be a search for a new HQ for drugs giant AstraZeneca.   The Anglo-Swedish company, which wants to relocate from its 49,000 sq ft offices at 15 Stanhope Gate, W1, instructed CB Richard Ellis late last year to handle the requirement. It has a 2010 lease expiry.   A spokesman said: “AstraZeneca is looking at a number of options for headquarters offices in and around London to ensure that we have the right space for future requirements at competitive rates. The move is subject to consultation with employees but a wholesale move to a new site in 2010 is the preferred solution.”   The pharmaceuticals firm has already looked at a number of buildings in the City, including Hammerson’s 213,000 sq ft 60 Threadneedle Street, EC2, which was launched last month with quoting rents of £49.50 per sq ft, and PRUPIM’s 181,000 sq ft Park House, EC2.   Market broker MF Global is also on the hunt for space and has shortlisted UBS’s and Oxford Properties’ Watermark Place, EC4, and Citigroup’s headquarters building at 25 Canada Square, E14, for its 125,000 sq ft requirement.   Canadian Imperial Bank of Commerce has also eyed Citigroup’s European HQ for its 60,000 sq ft requirement.   Strutt & Parker is advising MF Global; DTZ is acting for CIBC.   james.buckley@rbi.co.uk