West End offices chosen by Telefonica
Telefonica, the international telecommunications organisation, will start to refit its new digital division's headquarters next month, which will be based in West End offices.

The fourth and fifth floors of the AirW1 project off Regent Street's southern end have been secured and the space measures 51,000 sq ft.

AirW1 falls under the Quadrant 3 redevelopment, and at present, is 60 per cent let by rental value, The Crown Estate revealed.

Around 400 members of staff will be based in Telefonica's new West End offices, with a move expected over the summer.

Chairman and chief executive officer of Telefonica Digital Matthew Key said: "London is undoubtedly at the forefront of the current digital revolution and was a natural choice for us to establish our new headquarters in."

He stated that the capital attracts talented individuals and "acts as a unique bridge between Europe and the Americas", adding: "London is arguably the biggest hub for technology start-ups outside of Silicon Valley and a global centre for the media and advertising industries."

The Quadrant 3 development offers 180,000 sq ft of Grade A offices and is the only office site in the West End with more than 60,000 sq ft of space that will come to the market before the third quarter of this year.

It offers mixed-use facilities including nine new homes, 90,000 sq ft of retail and restaurant units and a new public area on Glasshouse Street.

Meanwhile, it has also been revealed this week that the Regent Street Partnership - made up of Norges Bank Investment Management and The Crown Estate - has purchased the head lease for Jaeger House at 200-206 Regent Street.

Home to retailer Jaeger, the Grade II-listed building offers 19,000 sq ft of West End offices and 29,000 sq ft of retail space.

Posted by David Hudek

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