Blackstone Leases Another London Office As Mayfair HQ Fully Occupied
UNITED KINGDOM – Blackstone Inc, a New York-based alternative investment management firm, has agreed to leased more office units within Berkeley Square in London, reported Bloomberg on Thursday morning (10 March, SGT).
The move by the investment group comes as a recruitment spree left Blackstone struggling to house all of employees within its existing local headquarters in Mayfair in the UK’s capital.
According to sources with knowledge of the deal, the investment management company has provisionally agreed to lease roughly 35,000 sq ft of office space at Berkeley Square House, which is just opposite of the investment group’s present HQ in London.
The commercial property space will be used to accommodate some back-office roles and will initially house about 50 staff but more would follow potentially, said the insiders, who requested anonymity because the discussions are ongoing.
“We are committed to London, the UK and Europe for the long term,” said Blackstone in a press statement.
“Berkeley Square has always been home for us here and we’re delighted to have found the extra space we need to continue to call it home as our business grows.”
Notably, in March 2020, Blackstone has recruited an additional 200 employees in London since the start of the COVID-19 pandemic in March 2020. The hiring spree has increased its London-based manpower to around 500 people.