CIPFA sells its West London site to move into open-plan accommodation near St Katherine's Dock
CIPFA is to move from its iconic West London office and into the City.
The public sector accountancy institute has been based at 3 Robert St (pictured above) since 1984, but has sold the building and will move to new headquarters near Tower Bridge at the end of the year. It will also consolidate its education and training centre in Borough High Street into the single site.
The institute has sold the Robert St office, which was once home to Peter Pan author J M Barrie, for an undisclosed fee. More than 100 staff will be based at Mint House, near St Katherine’s Dock (pictured below). A timescale for the sale of its Borough office has not yet been set.
CIPFA chief executive Rob Whiteman told Accountancy Age that the move was a “very important step” for the future of the institute. It will bring staff into a modern, purpose-built and open plan office, will place the institute’s balance sheet into a positive position, and improve staff collaboration.
“Robert St’s a beautiful building and has incredible history, but poor office accommodation,” said Whiteman.
“The move is part of our strategy of having a louder policy voice, improve services and help students & membership. We want staff working together.”
The relocation gives CIPFA the opportunity to enter into a sale and leaseback in the future if required, but selling the freehold was not a priority at the moment. Due to the size of the site, CIPFA will also create a rental stream by letting out some of the building.
“We will refurbish it and have a stunning new HQ,” Whiteman added.