REM has signed with Eight Advisory for 10 years at 48 Pall Mall

Real Estate Management Limited (REM) has agreed a new 10-year lease, on behalf of the owners, with Eight Advisory for the 3,270 sq ft seventh floor at 48 Pall Mall.

Eight Advisory will relocate its UK operations from Dover Street in Mayfair to 48 Pall Mall, the recently redeveloped contemporary office building in St James’, Westminster.

Eight Advisory is a leading independent financial and operations consulting firm. Founded in 2009, Eight Advisory specialises in corporate restructuring and transformation, providing support to senior management, shareholders, banks and potential investors.

Michael Baker, chief executive officer of REM, the asset manager of 48 Pall Mall, said: “We are pleased to welcome Eight Advisory to 48 Pall Mall, as it looks to expand its UK operations.

“[This] has been designed as a premium workspace adaptable to the changing demands of expanding global businesses and is well-located in one of London’s most established business neighbourhoods.

“The move reinforces the appeal of St James’ for businesses operating in and around the financial services sector, but the area also has a wealth of historic and contemporary amenities that make it appealing to a modern office occupier.”

From eight founding partners the firm has experienced rapid growth to 29 partners and over 250 consultants.

48 Pall Mall has received significant interest from potential occupiers across a range of business sectors. The new 32,000 sq ft office building has been completely redeveloped partly behind a restored historic façade. The building provides nine floors of high specification office space ranging in size from 2,000 sq ft to 4,000 sq ft along with three roof terraces.

The building is situated in the heart of St. James’, one of London’s biggest business districts and home to a variety of office occupiers, restaurants, hotels, private members’ clubs and art galleries.

Justin Welstead, managing partner of Eight Advisory UK, commented: “We are delighted to be moving to 48 Pall Mall to continue our growth in the UK and to working with REM on behalf of the building owners.

“St James’s is very convenient for business and we have many clients in the vicinity. The growth of our UK operations led us to look for an office that would provide a stylish yet modern workspace for our consultants and allow us to support and service our clients.”

As well as 48 Pall Mall, REM is the asset manager of Park House in Mayfair and Shard Quarter in London Bridge, comprising The Shard, The News Building and the currently under-construction Shard Place residential tower.

CBRE advised REM in this letting.

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