Accountancy giant PwC has shortlisted three companies to be its real estate adviser on stay-or-relocate options for its offices in London, where it occupies close to 900,000 square feet.
Earlier this year the company issued a request for information to agencies to advise on the future of its office portfolio, with the feasibility work at an early stage before decisions would be made.
It has now shortlisted Cushman & Wakefield, Savills and CBRE as its potential adviser on the requirement.
In the capital it has two principal offices at 1 Embankment Place, WC2, where it occupies 303,000 square feet on a lease expiring in 2030 and 7 More London Riverside, SE1, in London Bridge where it occupies around 425,000 square feet of offices with a lease that expires in 2035.
Accountancy firms are expected to be among the next wave of major office moves in the capital in the post-lockdown world as companies grapple with hybrid working and the return to the office. Law firms have made most of the prominent decisions about office moves recently.
PwC's big four accountancy firm rival EY is also reviewing its London headquarters at 1 More London, near London Bridge, as its 25-year lease on the building expires in 2028.
All parties declined to comment on the identities of the shortlisted advisers.
A PwC spokesperson said: “We have no plans to go anywhere any time soon – we’re looking ahead to the 2030s when our leases expire and exploring options, which will include staying in current properties. Our London office footprint is core to our business and given the London property cycle early forward planning is essential.”