The Economist heads for Canary
The Economist Group is planning to relocate from London’s Midtown to Canary Wharf.
It is understood that the media group is under offer to sublease 50,000 sq ft of space from Barclays Capital at 10 Cabot Square.
The group occupies 45,000 sq ft at 26 Red Lion Square in Holborn and at the Economist Tower at 25 St James Street in Mayfair.
The move is understood to mainly affect staff at Holborn where the lease expires in January of 2013. The rent at 10 Cabot Square is understood to be more than £30 / sq ft.
Equipe Real Estate acts for The Economist Group; Jones Lang LaSalle and CBRE act for Canary Wharf.