The Economist has announced it is selling its grade II-listed, Smithson-designed headquarters in London’s West End
The publishing group said it was planning to off-load the buildings at 25 St James’s Street, its home since 1964, and move somewhere else in central London.
The Economist complex, designed by Alison and Peter Smithson in the early 1960s, features three buildings – a 15-storey tower, a four storey block, and an eight-storey residential building – arranged around a pedestrian plaza.
The scheme received grade II-listed status in 1998, and in 1990 part of the development was refurbished by Skidmore Owings and Merrill.
The decision to sell the building comes after The Economist Group agreed to buy back £182million of shares from Pearson in a bid to ‘safeguard the independence of the company and the editorial independence of The Economist’.
Rupert Pennant-Rea, chairman of The Economist Group, said: ‘[This deal] will lead to the sale of the Economist complex, which has served us well for many years.
‘Now it will enable us to shore up an even greater asset, our independence. New offices, with more space for our digital ambitions and the needs of a 21st century media company, will be found for a new chapter in our history.’
No potential buyers are yet known.