INDUSTRY NEWS

Rathbones acquires new London premises

Rathbones has announced that they have signed a new 12-year lease on two floors of No 1 Curzon Street, London, securing 42,000 sq. ft. of prime London office space according to a leading property website.
The exact cost of the rental remains a mystery but in the heart of Mayfair it is presumed that they could be paying in excess of £100 per sq ft.
The major move for the company is being predicted to be complete by February 2012, although the financial cost could be around £5 million.
The building is currently owned by the Abu Dhabi royal family who purchased it for £280 million in 2005, with most of the other space being taken up by hedge-fund management companies and other financial institutions.
Andy Pomfret, Rathbones CEO, said: “The move to No 1 Curzon Street not only keeps Rathbones in the heart of Mayfair, but also increases our effective space in London by around 10%, through a combination of a larger and more efficient floor plan than our existing offices, without a material increase in the ongoing cost base.”

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