Flexible workspace operator Fora has subleased a space to Millennium Management in London’s Mayfair neighborhood that will serve as the investment firm’s new headquarters.
Millennium Management will take up 40,000 square feet of space on Grosvenor Street, which was initially set up as a members club by accounting advisory firm KPMG. This means that Millennium will be taking up the entire Fora-managed building, rather than leasing its own space.
Last December, Fora began subleasing the Mayfair building and equipping the space for Millennium, which is expected to be finished by the end of 2022.
KPMG closed its members club in 2019 in an effort to cut down on costs, and the firm’s lease runs until 2030.
Collaborative deals such as this have grown in popularity post-pandemic, allowing operators to address increased demand for flexibility, while landlords reduce the risk of signing long-term leases with occupants.