The Formula One group is moving offices from Prince’s Gate in Knightsbridge to new facilities on Lower Regent Street, in the recently-rebuilt St James’s Market, £400 million redevelopment that creates a new public square. The development was a partnership between the Crown Estate, which owns most the property on Regent Street and Oxford Properties.
Formula 1 will be taking nearly 21,000 sq ft over the fourth and fifth floors in No 2 St James’s Market.
“Formula 1 is a global sport, attracting audiences of 400 million, and London is the perfect place to grow our international fan base,” says Sacha Woodward Hill, General Counsel at Formula One.“We’re pleased to be opening our new global HQ in St James’s Market. The new space will accelerate our business transformation and help us to attract the best talent as we move forward.”
The current offices at Prince’s Gate are owned by Bernie Ecclestone. It remains to be seen what will happen to the Formula One Facility at Biggin Hill, where the TV operations are currently based. This too is owned by Ecclestone.