CB Richard Ellis is moving its
The world’s largest agent will decant staff from its 60,000 sq ft offices at Kingsley House on Wimpole Street, W1, to the 98,000 sq ft Henrietta House, at the nearby Henrietta Place.
CBRE has agreed to take a 15-year overriding lease on the building, formerly occupied by drinks giant Diageo, from landlord Lazari Investments. Lazari has agreed to an early surrender of Diageo’s lease on Henrietta House, which was scheduled to expire in October 2011.
Estates Gazette revealed last summer that Diageo was moving its 1,000 staff out of the building to its former headquarters in St James’s Square, SW1 (11 July 2009, p24).
John Kent, senior director at CBRE, who structured the deal, added: “The deal worked perfectly from our perspective, as the lease at Kingsley House was drawing to a close and the building requires renovation. Staying in occupation would not have been possible and, with the availability of Henrietta House in close proximity, and with time to refurbish, this was an opportunity too good to miss.”
Lazari’s Christos Lazari said: “Securing a tenant of this quality, together with our refurbishment of the building, will enhance this asset, which is in keeping with our objective of upgrading the quality and longer-term income stream within our portfolio.”
CBRE will move to its new West End HQ next May.