L'Oréal reactivates 200,000 sq ft London HQ hunt
French cosmetics group L'Oréal Paris has relaunched a search for a new headquarters building in London of up to 200,000 sq ft having shelved plans to move last summer, CoStar News can reveal.
L'Oréal has reappointed Cushman & Wakefield to advise on a major London office move of between 150,000 sq ft to 200,000 sq ft.
Bloomberg reported last July that the company had postponed plans to lease a new London HQ in the wake of the Brexit vote for at least three months to see if landlords would begin to offer lower rents in the capital.
The group, which is based in Standard Life’s 105,000 sq ft 255 Hammersmith Road, in Hammersmith, is back out quietly looking for options ahead of its lease expiry in 2019. L’Oreal occupies around 90,000 sq ft at the building.
When L'Oréal first instructed Cushman last February it was thought the group would seek to stay close to the Hammersmith area before reviewing the major central London campus opportunities coming forward at Chiswick Park, Battersea Power Station, White City Village, the Wembley office campus and King’s Cross Central.
All parties declined to comment.