Global real estate adviser Avison Young is relocating its London office and UK headquarters to The Met Building in Fitzrovia, CoStar News can reveal.
The group has signed for 37,000 square feet of offices at the Lazari development.
Avison Young said the "strategic move places the firm at the heart of its competitive landscape, enhancing proximity to clients, competitors and collaborators" and allows it to bring its London business under one roof, with teams located on Gresham Street and Regent Street relocating.
The group occupies around 50,000 square feet at 65 Gresham Street in the City of London and around 7,000 square feet at 208-222 Regent Street in the West End.
The recently retrofitted space will be managed by Avison Young and includes a dedicated entrance and reception area alongside offices across three floors, terrace space and cycle storage.
Nick Walkley, UK president and principal, Avison Young, said: “A lease expiry in June next year on our Gresham Street office allowed us the opportunity to find a new UK headquarters that fully reflected the business Avison Young is today in 2024 and going forward.
“The Met Building allows us the both the right space and configuration to work together – collaboratively between teams and with our clients, and demonstrates the potential of careful and creative retrofit projects to repurpose assets so that they are fit for future use.
“As well as allowing us to bring all our London service lines under one roof, which for us is paramount to our ongoing success collaborating on projects for our clients, the building also allows our staff to benefit from London’s culture and leisure scene and exemplary connectivity and transport links. This prime location will give us the cachet to attract new talent to the business.”
The move follows Avison Young's March announcement that it had closed a financial recapitalisation of the business that reduced its financial obligations by more than half and secured additional capital for strategic investment.
As part of the transaction, Avison Young said it would appoint a smaller, independent board of directors led by Mark Rose as chair.
To watch Rose discuss the recapitalisation and future strategy for the business in a video interview at March's Mipim conference in Cannes, click here.
Adrian Crooks, head of leasing, Lazari, said: “We are thrilled to welcome Avison Young to our portfolio and are excited to be a part of their growth journey. Their decision to take a long lease of 37,000 square feet for their new Headquarters is a testament to the quality and strategic location of The Met Building.
“Situated in the heart of London, The Met offers unparalleled access to key business districts, transportation hubs, and amenities. Additionally, our commitment to sustainability and eco-friendly practices ensures that Avison Young will be operating in a space that aligns with their own values. We look forward to a successful partnership and are confident that this move will bring tremendous value to both Avison Young and our community.”
Lazari was advised by Edward Charles and Knight Frank. Avison Young is undertaking technical due diligence on the building, with completion expected in the autumn.