INDUSTRY NEWS

Rio Tinto relocating to new office space

Leading international mining group, Rio Tinto, has secured the lease of new London office space in Paddington.

The firm has taken the 26,000 sq ft of office space on the 6th floor at Two Kingdom Street.

Two Kingdom Street already houses the global headquarters of pharmaceuticals giant, AstraZeneca, who vacated their offices in Mayfair because it was too small and not cost effective.

Boris Johnson officially opened AstraZeneca’s offices in February and at the time commented: “This once derelict part of London has transformed itself into a thriving new business district providing quick access to the capital’s transport network, its airports and its centres of world class research.

“With Crossrail passing through Paddington in the near future, many more businesses will be heading west to reap the huge business benefits AstraZeneca has discovered in this fantastic corner of the capital.”

The Kingdom street property has 230,000 sq ft of prime office space available, along with 22,000 sq ft of top-end studio space. The building work was completed in 2010 and 134,000 sq ft of office space is still available.

Commercial property news brought to you by DeVono Cresa, experts on London office space.