The new West End firm set up by Paul Smith, David Hanrahan, John Olney and Rob Hayes, has recruited a new partner, agreed a name and secured an office.

Nick Powell, head of the professional and asset management team in the West End at Strutt and Parker, has resigned and is thought to be joining the start-up company, which Property Week can reveal is set to be called H2SO.

The firm now totals seven professionals who have all left the following firms to join the new company: DTZ partner Paul Smith, King Sturge's David Hanrahan, CB Richard Ellis's Rob Hayes, Lewis & Partners' John Olney, Strutt & Parker's Nick Powell, and DTZ's Helen Perrott and Edward Betts.

It has also signed up for 2,000 sq ft at 20 Savile Row for its headquarters. It will pay around £45/sq ft. Drivers Jonas and Brogan Danvers Gold let the space for landlord the Pollen Estate and H2SO acted for itself.