Formula 1 has announced that it will be relocating its global HQ to London later this year as it looks to tap into the capital’s rich talent pool.
The move will see the world-famous motorsport company relocate to The Crown Estate and Oxford Properties’ £400m landmark redevelopment, St James’s Market.
As part of a major investment programme under its new owners, Formula 1 will be taking nearly 21,000 sq ft over the fourth and fifth floors in No 2 St James’s Market.
The organisation will be joining the likes of The Carlyle Group and The Crown Estate, who will both be relocating their London HQ’s to St James’s Market this year.
Sacha Woodward Hill, general counsel at Formula 1, said: “We’re pleased to be opening our new global HQ in St James’s Market.
“Formula 1 is a global sport, attracting audiences of 400 million, and London is the perfect place to grow our international fan base.
“The new space will accelerate our business transformation and help us to attract the best talent as we move forward.”
The news is yet another post-referendum boost for the UK, proving that London remains open for business.
Oliver Smith, senior asset manager at The Crown Estate, said: “Attracting a world-leading business like Formula 1 is a great endorsement of our vision to create a prestigious new business address in the heart of London’s West End.
“We are delighted to welcome Formula 1 to St James’s Market and look forward to building a long-term partnership with them as we continue to deliver our investment programme for St James’s.”
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