South: CoStar to move European HQ to The Shard

CoStar Group, the market leading global provider of commercial property information, and supporter of both the Thames Valley Property Awards and South Coast Property Awards, is to move its European headquarters to landmark London tower The Shard.

CoStar is taking an assignment of the 15,912 sq ft 26th floor from Swiss fintech group Leonteq, which will move into another location. It will pay a passing rent of £93 per sq ft for fully fitted space on a lease ending in August 2025 with no breaks.

The move enables CoStar to consolidate circa 70 staff in its two London offices in the West End into the 72-storey tower in a cost effective deal that allows for significant expansion.

The location has become a thriving hub for professional services firms which will provide a central meeting point for CoStar’s customers across London as well as access to City airport and the company’s offices in Germany, Spain and Glasgow. CoStar also has offices in Europe in Birmingham, Manchester and France.

The company plans to move in before the year end.

Giles Newman, managing director, CoStar Group Europe, said: “We are excited to be taking space in this iconic building. The move reflects a need to house our growing team and the need to serve an expanding customer base in London, the UK and Europe.”

Cushman & Wakefield and Osborne Clarke advised CoStar; Leonteq was advised by Cushman & Wakefield and Simmonds & Simmonds.

Knight Frank and JLL are the leasing agents on The Shard on behalf of asset manager REM, which represents the Qatari-backed owners of the London Bridge Quarter.

Source: CoStar