Ted Baker is leaving his Ugly Brown Building headquarters after 20 years.
The fashion brand has signed a 10-year lease with Westminster City Council, with annual rent of £ 900,000, for the Gorgeous Brown Building in Fitzrovia, central London, where it hopes to move next summer.
The move to the new property at 101 Cleveland Street will see the company’s rent significantly reduced, with current charges at its King’s Cross base of £ 3.25million and up to £ 4.2million if it does. was taking an option to rent another block.
Ted Baker previously owned the Ugly Brown Building, but it was sold to British Airways Pension Trustees for £ 78.8million last year following the departure of founder Ray Kelvin, who was the subject of allegations harassment at work. He denied any wrongdoing.
The bosses said the new 30,000 square foot headquarters “is a fitting home for the brand with its distinctive flat iron shape and epic ceiling heights.”
Managing Director Rachel Osborne said: “We are delighted to have secured a magnificent building as our new global headquarters in Fitzrovia.
“This will allow us to work more efficiently and collaboratively, and above all to express our unique brand personality.
“We look forward to putting our team members at ease and welcoming our global partners to our new showrooms starting in summer 2022.
“Having spent over 20 years in the Ugly Brown Building, it will be invigorating to be in our new location in Fitzrovia.
“Times have changed, and so have the way we work, and our brand has a renewed personality and energy, which will be reflected perfectly in the beautiful Brown Building. “
Additional reporting by the Press Association
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This notice was published: 2021-07-23 15:50:37