Sainsbury's to move out of 17-million-a-year HQ
Supermarket giant Sainsbury's has announced that it is to move out of its head office in Holborn Circus, London, and relocate to a site in King's Cross.
The retailer, which is paying 17 million in rent each year at its current 330,000 sq ft site, will move into the smaller, 250,000 sq ft offices in 2011, at a "substantially" reduced cost.
Some 2,000 Sainsbury's staff moved to the Holborn site in 2001, and the company said it did not expect there to be any job losses.
Chief executive Justin King described the King's Cross development as a "great solution", adding: "In addition to its energy efficiency, the new premises will deliver cost savings to the business, while allowing us to remain within our traditional heartland, and therefore minimise any potential disruption."
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