Swiss bank homes in on Marylebone move

Swiss bank Union Bancaire Privée (UBP) is closing in on a deal for its next London office, which would see it move to TPG Angelo Gordon’s refurbished Marylebone Place at 1 Wyndham Street, W1. The company is under offer to lease all of the 77,000 sq ft of workspace available in the 1930s building, which has recently been renovated and extended by Fletcher Priest Architects on behalf of TPG. UBP is set to pay a rent in the mid-£90s per sq ft range. This is similar to the £92 per sq ft it is paying, according to Radius data, at its current London HQ at Seymour Mews House on Seymour Mews, W1, where the company has been based since 2019. Earlier this month the company announced it had acquired SG Kleinwort Hambros from Société Générale, which, it said, made it one of the UK’s largest family-owned private banks with over £20bn client assets under management. Once complete, the deal would be one of the West End’s largest of the year so far, according to Savills’ Central London Office Market Watch. Other deals of a similar scale currently in the works include Generation Investment Management’s pre-let 58,491 sq ft of The M Building at 334-348 Oxford Street, W1 at a rent of £185 per sq ft, which Estates Gazette reported on in February. Savills and RX London are the agents advising TPG Angelo Gordon on the deal.