Omnicom plots new London HQ with offer on South Bank mega-office

PHD: the Omnicom-owned media agency could be among those relocating
PHD: the Omnicom-owned media agency could be among those relocating

Omnicom Group has made an offer to take over the 370,000 sq ft Royal Bank of Scotland office building in London's South Bank, as its potential new headquarters.

The US-based marketing giant, which is the second biggest communications holding company in the world by revenue, has made an offer on the property and would relocate from its European base at 239 Old Marylebone Road if the deal goes through.

Omnicom’s offer is thought to include the Bankside 2 and 3 buildings, which make up RBS’s largest office in London.

Other agencies in the group, which includes the Omnicom Media Group agencies OMD and PHD and the creative agencies Adam & Eve/DDB and Abbott Mead Vickers BBDO, could also move into the new office.

However, Omnicom is also understood to have made offers on multiple properties.

It is also considering the Aldgate Tower, a 317,000-sq ft development in East London that is due to be completed later this year.

An Omnicom spokeswoman said: "We are looking at a number of properties and no decision has been made".

A number of Omnicom’s UK agencies, including AMV BBDO and Proximity, are currently based in the Marylebone area, while many of its media agencies such as OMD UK and PHD are clustered around Goodge Street.

Leases for several properties, including the 151 Marylebone Road base of AMV BBDO, are set to expire in the next few years.

The RBS Bankside office is owned by M&G Real Estate, which bought it for a reported £312 million from Land Securities in September last year.

The retail estate agent Cushman & Wakefield is an adviser to Omnicom, but declined to comment on the news.

0
SHARES
Comment

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs
Thousands of jobs across advertising, creative, marketing and media

Just published

Feel you're missing out?

GET THE
BRANDREPUBLIC
BULLETINS
Sign up

The Wall Blog

From our partners

3 great ads I had nothing to do with: Brian Cooper

3 great ads I had nothing to do with: Brian Cooper

3 great ads I had nothing to do with: Catherine Kehoe

3 great ads I had nothing to do with: Catherine Kehoe

A day in the life of Jozef Wallis

A day in the life of Jozef Wallis

A day in the life of Arthur Kay

A day in the life of Arthur Kay

A day in the life of Daniel Kaplansky

A day in the life of Daniel Kaplansky

Have an exciting Christmas in EC1

Have an exciting Christmas in EC1