Member Article

Formula 1 to move its global headquarters to £400m St James’s Market development

Global motorsport company, Formula 1, has announced it is to up sticks and relocate its worldwide headquarters to a major £400m redevelopment in the West End of London.

The sporting brand has agreed to take nearly 21,000 sq ft at No 2 St James’s Market, which is part of The Crown Estate and Oxford Properties’ mixed-used redevelopment project at St James’s Market.

Formula 1, which was acquired by US firm Liberty Media in January, will take over the fourth and fifth floors at the building later this year, joining The Carlyle Group and The Crown Estate at the newly redeveloped property.

Oliver Smith, Senior Asset Manager at The Crown Estate commented: “Attracting a world-leading business like Formula 1 is a great endorsement of our vision to create a prestigious new business address in the heart of London’s West End.

“We are delighted to welcome Formula 1 to St James’s Market and look forward to building a long-term partnership with them as we continue to deliver our investment programme for St James’s.”

Sacha Woodward Hill, General Counsel at Formula 1 added: “We’re pleased to be opening our new global HQ in 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.

“The new space will accelerate our business transformation and help us to attract the best talent as we move forward.”

Knight Frank and Cushman & Wakefield acted on behalf of the St James’s Market Partnership and Savills on behalf of Formula 1.

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