A letting agreement has been reached between the company and its prospective landlord, Portland Estates. Savills staff will start working from 33 Margaret Street in the West End from “early 2013.”
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The building will become the advisory’s new London headquarters and effect a consolidation of its offices in the West End which are currently located at two separate sites at Landsdowne House and Grosvenor Hill respectively.
Plans are in place for Savills’ staff to occupy the first five floors of the ear-marked Margaret Street building, which will cover a total of roughly 64,000 sq ft of central London office space. Prices agreed were not revealed, but London’s West End is among the most expensive office rental markets in the world.
“This pre-letting of 33 Margaret Street is a strong expression of confidence in the growth of the Savills business going forward and in London as a global financial centre,” said Jeremy Helsby, Savills chief executive.
“This move will provide Savills with an exciting new London headquarters building for the future benefit of both our staff and our clients.”
Established in 1855 in London by Alfred Savill and now listed on the London Stock Exchange in the FTSE 250 Index, Savills has offices in countries across the Americas, Europe, Asia, the Middle East, and the UK.
Earlier this month, the pension and investment advisory group Punter Southall announced its plans to consolidate three existing central London offices into a single, newly refurbished 35,000 sqft space on the Strand.
Editor’s notes: As of June 2024, Savills maintained its global headquarters at 33 Margaret Street in Mayfair in London’s West End.