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Brewin Dolphin signs 10-year lease on West End office

Brewin Dolphin signs 10-year lease on West End office

Brewin Dolphin has signed papers to establish a new office in a Grade II listed building in London's West End. 

The national wealth firm has signed a 10-year lease on 8 Waterloo Place, St James's, which is owned by Barings Real Estate Advisers 

Brewin's new branch is 5,309 square foot, with the rent equating to £102.50 per square foot.  The firm intends to open the office later this year. 

A spokesperson for Brewin said: 'We have now signed a lease. We will have more details when we are closer to opening it.'  

The news comes after Wealth Manager revealed on 24 November that Brewin was exploring the possibility of moving from its Farringdon base at 12 Smithfield Street. The firm, which traces its origins back to 1762, has been based here for around 10 years. 

Brewin will continue to look for new City headquarters to sit alongside its new smaller West End office. 

In its full-year numbers released in November, Brewin indicated it was looking to secure 'office space in central London to provide an appropriate environment for testing our new complex advice service'. 

This followed an extended a trial of the simplified advice service, dubbed WealthPilot, to clients across the UK, following a successful trial in its London office throughout 2017.

Dating back to 1910, 8 Waterloo Place has recently undergone a major renovation project, including the restoration of a number of historic features. 

Brewin staff can look forward to sharing the premises with Michelin-starred Asian fine-dining restaurant Imperial Treasure, which is scheduled to open for business in the basement of the five-storey building in the autumn. 

After a tricky spell, which saw it close a number of offices across the country and suffer a £31 million tech write down, Brewin has found its feet again under chief executive David Nicol.

At the end of 2015, Nicol voiced his firm’s intent when he said expansion was back on Brewin’s agenda after a turbulent two years.

This conviction was demonstrated by the acquisition of Duncan Lawrie Asset Management which completed last May and was its first market foray since 2011.

Brewin's full-year numbers underlined the turnaround. Total funds under management rising 13.3% to £40.1 billion in the 12 months to the end of September on the back of record discretionary fund inflows of £2.3 billion. Pre-tax profit rose 14.8% to £70 million. 

Editor's clarification: An earlier version of this story said that the West End office was to be Brewin Dolphin’s new London headquarters. This has been amended now and apologies for any confusion.

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