New York-listed private equity group Apollo Global Management is on the cusp of signing for a large London headquarters above the new Tottenham Court Road Crossrail station.
In a major vote of confidence in London, Apollo, led by Rob Seminara in Europe, is in advanced negotiations to take around 100,000 sq ft of office space at Soho Place.
That building is part of a £500 million redevelopment of the historic Astoria music venue by FTSE 250 developer Derwent London.
It is one of a number of properties Apollo has been looking closely at since summer, but West End property sources said a deal is now imminent.
Apollo, which declined to comment, will relocate staff from much smaller offices in Mayfair. Construction on Soho Place is due to complete in 2022.
Apollo has been expanding heavily via acquisitions in Britain and Europe. Earlier in 2019 it bought insurer Aspen for $2.6 billion, and last year snapped up Irish hotel group Tifco.
It joins other businesses seemingly shrugging off political and economic uncertainty by committing to pre-lets well ahead of construction completing. That comes amid fears that supply of the best space to attract top employees is running short in central London.
Cushman & Wakefield, JLL and Knight Frank are Derwent’s leasing agents on Soho Place. All parties declined to comment.
