EY signs lease on new Southampton offices

Professional services giant EY has signed a three-year lease on a new city centre office in Southampton.

The move to Grosvenor House will increase the firm's floor capacity by more than 20 per cent from its current premises and follows a period of significant growth over the last 12 months, resulting in 40 new hires in 2019.

EY is expected to relocate to its new offices early in 2020, following a refurbishment project to transform the two floors of the 30,000 sq ft building.

The lease will see it take two floors of the self-contained office building which, following fit-out will offer open plan office space, amenity areas and client meeting space.

The firm said it intends to continue to build the audit business and expand the tax practice in Southampton, working with clients across the South Coast corridor and contributing to the success of the existing 700-plus strong business, which also includes its Reading office, comprising the Thames Valley and South region.

EY Southampton office managing partner Dave Hales said: "We've been at our current location for nearly 30 years but needed to find somewhere to accommodate our expanding business.

"Grosvenor House is a prestigious building, ideally located near the city centre, close to amenities and transport links and with ample room to expand in the future."

He added: "Southampton and the South Coast has a thriving economy, despite the challenges of an uncertain economic landscape. This move shows we are fully committed to Southampton and to providing the best possible service to our clients and to exploring opportunities across the region."

Property consultancy JLL advised on the deal.

JLL director Nella Pang said: "We are witnessing a number of corporate companies take flexible space to cater for 21st century work life and better position themselves in a fast paced business environment. JLL predict up to 30 per cent of corporate portfolios could be in co-working or flex space by 2030."

BE.Spoke has agreed the head lease and will be creating the workspace ahead of EY taking occupation of the new office accommodation.

Jonathan Weinbrenn, managing director of BE.Spoke, said: "We look forward to delivering a custom-built solution reflecting EY’s brand and corporate identity, and providing ongoing customer support and facilities management."

Source: Insider Media Limited