Owner of former Financial Times HQ takes over lease assignment ending in 2020
WPP, the owner of the former headquarters of the Financial Times, will occupy the three lower ground floors of the 12-storey building and has the option to the renew the rental agreement when it expires at the end of December 2020. The passing rent for the best floors was around £74 per sq ft.
Owned by Lazari Properties, other tenants in the building include HSBC, GML International and Titan Investors. The property was refurbished in 2005 and is located at the corner of Percy Street and Tottenham Court Road.
In January WPP bought the FT’s former headquarters at 1 Southwark Bridge to decamp from Mayfair’s 27 Farm Street, where it had been based for more than three decades, in order to find a larger and more modern location for its UK staff.
James Andrew International represented WPP and CBRE represented Zenith on the deal.