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Eversheds Sutherland advises GSK on global HQ relocation in London

  • Global
  • United Kingdom

    10-01-2023

    Global law firm Eversheds Sutherland has advised FTSE 100 corporate GSK on its plan to source a new global headquarters in London.

    The biopharma multinational’s move marks one of the largest London office lettings of the past year and is both a sign of confidence in, and a boost to, the London commercial property market.

    The transaction, which was led by Eversheds Sutherland real estate Partner Gareth Ashfield and Principal Associate Martin Holden, involved highly complex and challenging transactional real estate work.

    Eversheds Sutherland advised in relation to GSK’s tax liabilities, planning permissions, employment considerations and construction, as well as the leasing of the new premises.

    Commenting on the completion of this transaction, Gareth Ashfield, Partner at Eversheds Sutherland, said:

    “We are delighted to have assisted our longstanding client GSK on its exciting move, which signals continued commercial commitment to investment in the London real estate market.

    “The importance of one of the world’s largest and most innovative companies returning to central London cannot be understated at this time. These sorts of eye-catching moves have proven to be a catalyst for others in the past. And we hope that this will be the case in the near future.”

    The new location, which is currently under construction, will aim to achieve a BREEAM Outstanding rating, the highest accreditation available, with a focus on reduced CO2 through procurement and construction as well as energy consumption and health and well-being.

    Ian M. Anderson, VP and Global Head of Real Estate in Workplace, Real Estate & Facilities, (WREF) at GSK commented:

    “The Eversheds Sutherland team has yet again provided stellar support and advice on what was a very complex commercial transaction. Our relocation marks a return to Central London for GSK and moves us closer to achieving our commitment to net zero impact on climate by 2030.”

    The new headquarters will focus on providing an accessible, multi-functional and sustainable work-space. As the use of inner city office spaces evolves to suit changes in demand, this move towards adaptable and collaborative corporate office spaces signals a change in how offices can also interact with the communities within which they are located.

    Gareth Ashfield, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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