Fiat Chrysler Automobiles has announced that its global headquarters will be located in London’s West End.
TheÂ London office will be located just 10 minutes away from Buckingham Palace, in the heart of the UK capital, close to where Fiat has had corporate offices for more than 40 years.
It is expected that the firm will lease three floors of office space on St James Street but it is yet to be confirmed how many employees will occupy the floors.
London’s West End is currently the most expensive district for office space in the world.
The new London office was chosen for tax purposes and to avoid political controversy in the car makers’ current respective home countries, with it being on neutral territory.
It is also hoped that the St James Street office will help the firm to become a globally recognised car maker, enabling them to embark on their 55 billion euro plans to expand and compete with better known competitors General Motors and the Volkswagen Group.
The move comes after Italian carmaker, Fiat SpA is set to become the world’s seventh-largest car maker and merge with Chrysler Group LLC Â in October 2014, with employees anticipated to move into the headquarters before the merger is finalised.
By:Â Kirsty MacGregor
News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.Share: