US-based pharma giant Eli Lilly has begun a fresh search for office space in central London, heralding a potential return to the capital after 88 years.
The company, which is headquartered in Indiana, has appointed CBRE on its search for workspace in the capital. It is seeking around 65,000 sq ft.
Lilly UK, which is Eli Lilly’s UK business, is headquartered in Basingstoke, Hampshire, and also has a research centre in Bracknell, Berkshire.
In December last year, it moved its Basingstoke base to a £19m new-build property (pictured) within the Basing View enterprise zone. The head office measures around 45,000 sq ft across five storeys and was built by Muse Developments’ sister company Morgan Sindall, in partnership with Basingstoke and Deane Borough Council. Lilly signed the prelet for the space in 2017.
Muse has been the council’s development partner on the wider £500m Basing View regeneration project since 2011. However, the council decided earlier this week not to extend the development agreement, with the partnership set to expire in December this year.
Lilly UK set up its first base outside of the US in London in 1934, at 2-4 Dean Street, W1. The company was based there for about six years until it relocated to Basingstoke. Nowadays, 2-4 Dean Street and 7 Soho Square form a six-storey building opposite the entrance to the new Elizabeth Line station. Owner Hines is consulting on plans to redevelop the site, which has a Tesco supermarket, into offices and ground-floor retail.
A spokesperson for Eli Lilly said: “While we regularly evaluate our strategy regarding all Lilly sites worldwide, we do not share the details of those strategic evaluations.”
CBRE declined to comment.
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