Knight Frank, the leading real estate adviser, has completed its letting agreement for a new London headquarters, relocating from the West End to the City.
Aviva Investors, the global asset management business, has signed Knight Frank at its flagship One Liverpool Street development.
The agreement will see Knight Frank take 72,400 square feet in the building on an 18-year lease for what will become its London and global headquarters. CoStar News first tipped the move in January.
It is the second major letting completed by Aviva Investors at One Liverpool Street, and follows the news in 2023 that Dentons, the world's largest global law firm, would be occupying almost 68,000 square feet.
Due to complete in the first quarter of 2026, One Liverpool Street will provide 176,000 square feet of office and retail, spread across the ground and 10 upper floors. It forms one part of a substantial development scheme that also includes One Liverpool Street’s sister scheme, 101 Moorgate, which itself provides over 70,000 square feet of office and retail over its ground and eight upper floors and roof terrace. The two buildings sit at the eastern and western entrances to the Elizabeth line at Liverpool Street station respectively.
Aviva said both sites are being developed to create office headquarters that are fit for the future, with energy-efficiency being a prominent consideration in the design, targeting a BREEAM ‘Outstanding’ rating for sustainability performance and EPC A. They will also feature all-electric energy.
The measures are expected to lead to an overall carbon saving of 33% over current building regulations, while lowering ongoing energy needs and costs for occupier firms.
One Liverpool Street forms part of a significant development pipeline for Aviva Investors in the City of London. A public consultation has also recently opened on Aviva Investors’ plans to redevelop 130 Fenchurch Street.
Ed Atterwill, head of Central London at Aviva Investors, said in a statement: “Attracting a business such as Knight Frank is testament to the quality of our development programme and the buildings that we create. We are delighted to welcome them to One Liverpool Street. This is a scheme designed to equip world-leading businesses with a truly flagship building, featuring best-in-class facilities and modern technologies, whilst sitting in one of London’s best connected locations. We believe this is a development which can help the City get ready for the future by creating flagship assets that continue to attract world-leading businesses to the heart of the Square Mile.”
William Beardmore-Gray, senior partner and group chair at Knight Frank, added: “We are absolutely delighted to have secured a truly best-in-class building located in the heart of London as our new Global HQ. Our goal was always to secure a state-of-the-art space with exceptional ESG credentials, that embodies our market-leading brand, delivers what we need and sets us up for the future – 1 Liverpool St represents that. With excellent transport links surrounded by restaurants, shops, green spaces and much more, it will be an exceptional place for our people to come together, work, collaborate and welcome our clients.”
Knight Frank is relocating from its base at London & Regional's 55 Baker Street. Knight Frank moved there from Hanover Square in the West End in 2008 on a 20-year lease that expires in 2028. It has a lease on 100,000 square feet but has subleased around 10,000 square feet.
Aviva Investors formed a joint venture partnership with German fund manager Allianz for the development of two mixed-use retail and office buildings at One Liverpool Street and 101 Moorgate February 2022.
JLL and Knight Frank advise Aviva and Allianz.
Knight Frank's move represents another rare shift of a headquarters from the West End to the City by a major agent after JLL committed to 129,000 square feet at British Land and GIC's 1 Broadgate at Liverpool Street, where it will move in 2026.
CBRE, Savills and Colliers all committed to having their flagships in the West End and smaller locations in the City. Avison Young recently signed to relocate from 65 Gresham Street in the City to the Met Building in Fitzrovia. Cushman & Wakefield's London HQ is at 125 Old Broad Street in the City, with a smaller location at 25 Baker Street in the West End recently selected.