Publicis Groupe, the global marketing and communications group, is to expand its London office occupancy by taking space next door to its headquarters in Holborn, CoStar News understands.
Market sources this week said Publicis, advised by Cushman & Wakefield, is in talks to take in excess of 20,000 square feet of offices across two floors at 38 Chancery Lane.
The group, which owns the Saatchi & Saatchi and Leo Burnett marketing businesses, is already in around 100,000 square feet in the next-door 40 Chancery Lane.
Germany's Deka is the landlord at both buildings.
Deka bought the long leasehold interest in 40 Chancery Lane, WC2 for £121.3 million from Derwent London in 2019. The 103,700 square feet office and retail building is let to Publicis until July 2035, with a tenant break in July 2033.
Deka bought the 73,793-square-foot Cursitor Building or 38 Chancery Lane from Aberdeen Standard Investments and Endurance Land in 2018 for £86 million.
Cushman & Wakefield and Publicis declined to comment. Deka did not respond to requests for comment.