Burberry, the luxury goods brand, has taken Derwent Valley’s 160,000 sq ft (14,864 sq m) Horseferry House on Horseferry Road, Westminster, as its global headquarters.

Burberry has agreed to take a 25-year lease on the nine storey office building at £5.3m a year, with an option to break at the end of the fifteenth year and an 18-month rent-free period.

Burberry will relocate its international head office from existing buildings around Haymarket to Horseferry House.

Horseferry House was purchased by Derwent Valley in 2005 and has been redesigned by architects Allford Hall Monaghan Morris. Work has now started on the refurbishment of the 1930s office building. The building works will be completed in spring 2008.