INDUSTRY NEWS

Omnicom plans to switch HQ to new London office

Omnicom is eyeing up a major offer to purchase the Royal Bank of Scotland London office building in South Bank.

The mammoth marketing and communications agency is reported to have made an offer to take over the 370,000 sq ft of London office space the property offers.

A bid on the property is likely to include Bankside 2 and 3 buildings, currently RBS’s biggest London office. The London office space is located next to the Tate Modern.

Bankside 2 offers around 177,183 sq ft of London office space, and some retail space. It is the smallest of the three buildings. Bankside 3 offers 237, 972 sq ft of office and retail space.

Although a bid has been made on the London office, the advertising giant is also said to be keeping its options open, with Aldgate Tower, a 317,000 sq ft development in east London also a potential target.

An Omnicom spokeswoman said: “We are looking at a number of properties and no decision has been made.”

Any such move would likely see the firm move out of its European base at 239 Old Marylebone Road. It could also see other agencies under the group, such as Omnicom Media Group agencies OMD and PHD consolidate under one roof.

The building is owned by M&G Real Estate following its big money purchase of the property from Land Securities in September 2013.

It was Land Securities who first developed the property back in 2007.

By: Kirsty MacGregor

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