Investment giant T Rowe Price is to relocate to a new 130,000 sq ft UK base at Paternoster Square, near St Paul’s Cathedral, in a move which will see it increase its office footprint in London by more than a third.
The US asset manager will move from its current office in Queen Victoria Street to Warwick Court, EC4, in early 2023. A spokesperson said the terms of the deal were confidential.
According to Radius Data Exchange, the company occupies less than 90,000 sq ft at its current headquarters, meaning it is bucking the trend among big London occupiers of downsizing in response to the pandemic.
The likes of HSBC, NatWest and fellow asset manager Man Group, to name a few, have said they will reduce their office footprint as part of a move to flexible working as the UK emerges from lockdown.
Warwick Court is a redevelopment by a Stanhope and Mitsubishi joint venture, and neighbours the London Stock Exchange.
Robert Higginbotham, head of global distribution at T Rowe Price, said: “While we plan for the relocation of our London office, what doesn’t change is our commitment to our associates, clients and our community.
“Moving to Warwick Court will support the firm’s collaborative culture by providing more workspaces for all associates in a single site and drive our continued focus on sustainability in a more modern and environmentally efficient building.”
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