The General Pharmaceutical Council (GPhC), the independent pharmacy regulator for Great Britain, has exchanged contracts to take 38,500 sq ft on the 26th floor and part 25th floor at 25 Canada Square, at a competitive rent in a rising market. The quoting rent was £35.00 per sq ft.
The premises will provide new accommodation for the GPhC, which will be relocating in September 2014 from 129 Lambeth Road, where its lease is ending.
The GPhC has taken a 15 year sublease subject to an option to determine at the 10th year.
Duncan Rudkin, Chief Executive of the GPhC, said:
“Relocating to 25 Canada Square will offer good value accommodation which will meet our current and future needs, including necessary additional space for our staff and for a new fitness to practise hearings centre.
“We identified our new offices after a thorough search and detailed evaluation of all possible options for our future accommodation needs, including options outside London. Our Council decided that the relocation to 25 Canada Square was the best option for the GPhC after carefully considering a number of factors, including the importance of using our funds wisely, the facilities we will need and the impact any moves would have on our staff.”
GVA advised GPhC, Cushman and Wakefield and Knight Frank advised 25 Canada Square.