Circle Housing has today announced that it is relocating its London headquarters to the King’s Cross area. This forms part of its office strategy to reduce its footprint and total occupancy costs by 50 per cent, increase sustainability and enable it to achieve its business, financial and social goals.
The move will see Circle Housing return to its roots, as Circle Housing 33’s headquarters were based at No 26 St Pancras Road, which has recently reopened as the Gymnasium. Circle Housing has signed a ten year lease for 15,000 square feet of office space from the King’s Cross Partnership to create a new hub for its central team, as well as a meeting and collaboration space with internal and external partners and stakeholders.
At the end of this year, the housing group will close its head offices based at Swan Yard and Circle House in Highbury & Islington, which have housed its central teams since the group was first formed in 2005. Combining the teams to create a new head office is expected to cost the Group around £300,000 less over the next ten years, as well as contributing to its sustainability and business priorities.
Circle will be neighbours with a number of other social and not for profit organisations including Camden Council, Central St Martins and PRS for Music.
Robert Kerse, Executive Director of Finance for Circle Housing, said: “This move makes great business and social sense for us. Our current offices simply aren’t fit for purpose, they are costly to maintain, have too many empty desks and no longer meet our needs and aspirations. The King’s Cross regeneration offers some of the best value central London spaces at the centre of an exciting transformation of an area which will connect us to our business and social aspirations.
Helen Causer, Argent (King’s Cross) Ltd., the asset manager at King’s Cross, commented:
“Circle Housing’s news demonstrates the real diversity of tenants wanting to make King’s Cross their base.”
Carter Jonas advised Circle on the deal; King’s Cross Central Ltd Partnership was advised by Savills and DTZ.