Ted Baker is transferring out of its Ugly Brown Constructing headquarters after 20 years.
The style model has signed a 10-year lease with Westminster Metropolis Council, with an annual lease of £900,000, for what might be referred to as the Beautiful Brown Constructing in Fitzrovia, central London, the place it hopes to maneuver subsequent summer time.
The transfer to the brand new property at 101 Cleveland Road will see the corporate’s lease considerably diminished, with present expenses at its King’s Cross base of £3.25m, and as much as £4.2m if it took up an choice to lease one other block.
Ted Baker had beforehand owned the Ugly Brown Constructing however it was offered to British Airways Pension Trustees for £78.8m final 12 months following the departure of founder Ray Kelvin, who confronted allegations of office harassment. He denied any wrongdoing.
Bosses mentioned the brand new 30,000sq ft HQ “is a becoming house for the model with its distinctive flat-iron form and epic ceiling heights”.
Chief government Rachel Osborne mentioned: “We’re delighted to have secured a stunning constructing as our new world HQ in Fitzrovia.
“It should allow us to work extra effectively and collaboratively, and most significantly to specific our distinctive model character.
“We stay up for making our group members comfy and internet hosting our world companions in our new showrooms from summer time 2022.
“Having spent greater than 20 years within the Ugly Brown Constructing, it will likely be invigorating to be in our new web site in Fitzrovia.
“Occasions have modified, as have our methods of working, and our model has a refreshed character and vitality, which might be completely mirrored within the Beautiful Brown Constructing.”
Extra reporting by Press Affiliation
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