January 4, 2018
Penguin Random House UK is the latest major creative company to announce it is opening a new London office in Nine Elms.
It has confirmed it has signed an agreement to lease 83,400 square feet across five floors from developers Ballymore at One Embassy Gardens. It will also retain its existing office in nearby Vauxhall Bridge Road.
Penguin Random House aims to move all its London employees into one of these two sites at the end of 2019, vacating office in Ealing and the Strand.
The leading publishing company will join other creative, digital and tech giants moving to London’s newest business quarter, including Apple which is leasing half-a-million square feet at Battersea Power Station.
The new American Embassy will be opening later this month in Nine Elms and the Royal College of Art recently submitted a planning application for a £50m state-of-the-art building for postgraduate students and entrepreneurs in North Battersea. This is part of a£108m investment by the RCA which will secure its future in Battersea.
The area’s arts scene is also flourishing with new public art, a major new art gallery and new venues, including the Village Hall at Battersea Power Station created in partnership with Battersea Arts Centre. Recently the Haywood Gallery announced that London’s largest free contemporary arts festival Art Night has chosen Nine Elms, Battersea and Vauxhall for its first foray into south London.
Leader of Wandsworth Council Ravi Govindia said:
“It’s excellent news that another world-class institution is moving to Nine Elms, It will open up opportunities for our residents and encourage other creative, publishing and digital industries to join them.
“This, together with the extension of the Northern Line to Battersea, will draw in skills and investment and help create employment. We will continue to work with schools, and through our Work Match service, to ensure our young people are best placed to make the most of these new opportunities.”
Tom Weldon, CEO, Penguin Random House UK commented:
“This move provides an opportunity for all of our teams to work together even more closely as one company. This is about much more than just bricks and mortar. We want to use our new workspace to build a creative culture for the future that will help us to attract and retain the very best talent.”
John Mulryan, UK Managing Director, Ballymore commented:
“We are very pleased to welcome Penguin Random House to Embassy Gardens. With the forthcoming opening of the new US Embassy and the recent announcement of Apple moving its headquarters to the area, this gives further momentum to this remarkable place of regeneration.”