EY extends global HQ stay on Thames
Big Four giant EY has renewed the lease on its global headquarters until 2040.
The firm’s UK and global HQ is at 1 More London Place, whose lease was set to expire in 2028 before the firm greenlit a contract renewal.
The ten-storey building on the south bank of the River Thames, with 35,000 sq ft of office space, was designed by Foster and Partners.
EY, which has been based in the office since 2003, had its tenancy contract reviewed in 2023 as it considered other offices across the City.
The professional services giant has around 8,000 people based in the City office. EY has 20 offices across the UK, with another London-based office at 25 Churchill Place in Canary Wharf, with 4,500 people.
Anna Anthony, EY UK and Ireland regional managing partner, said: “Extending the lease on this iconic building marks our continued investment in London and confidence in the capital as a place to do business.”
“We are retaining a fantastic building, in a prime location, which will continue to provide a great place to work for our people,” she added.
EY revealed last year its plans to relocate 1,200 Birmingham staff from One Colmore Square to Three Chamberlain Square, part of Paradise Birmingham development, which is scheduled to go ahead this year.
What about the other Big Four names?
PwC is actively reviewing its London office portfolio, including its flagship Embankment Place and More London sites, as leases are set to expire around 2030.
Deloitte’s main London campus includes offices at 1 New Street Square, where it signed a 20-year lease in 2015.
The other offices the firm has in the City are at 2 New Street Square and 66 Shoe Lane, where it has increased its space after rolling back pandemic cuts.
KPMG signed a 25-year lease on the 434,261 sq ft office at 15 Canada Square in Canary Wharf in January 2018, for all of its 7,000 City staff.