L’Oréal will occupy six floors of the eleven storey building, which is part of the new creative business district White City Place, developed and owned by Stanhope, Mitsui Fudosan and AIMCo. Other occupiers at White City Place include the fashion designers Ralph & Russo, online luxury fashion retailer Yoox-Net-a-Porter, the BBC and ITV Studios. The workforce of 1,000 employees at L’Oréal’s London-based headquarters are due to move in Autumn 2023 to the new building, which is when the company will reach the end of its current lease. The space will reflect L’Oréal’s culture, focused on collaboration, creativity and agility.
The new building, designed by one of the UK’s largest architecture practices Allies and Morrison, has a total floor space of over 240,000 square feet and includes an outdoor terrace with capacity for up to 250 people. As part of the move, the company will continue to house the L’Oréal Academy, which will train more than 10,000 hairdressers a year. The company hopes this will positively influence the local economy and bring new employment and training opportunities to the hairdressing industry.
David Camp, Chief Executive, Stanhope said: *“We are delighted that L’Oréal has chosen to make a new building at White City Place as their new UK headquarters. They will be a great addition to the fantastic mix of creative and fashion companies already based at White City Place and will help cement White City’s position as a leading global business district for world class companies.”*
Eiichiro Onozawa, Managing Director, Mitsui Fudosan said: *“L’Oréal has chosen to make White City Place their new permanent home in London, joining a host of world leading companies located in White City including Novartis and Publicis. The move highlights how White City has quickly become a destination of choice for ambitious, innovative businesses seeking world class facilities, a prime location and renowned transport links.”*
L’Oréal was advised by Cushman and Wakefield and Stanhope, Mitsui and AIMCo by Knight Frank.