1 Portal Way – The transformation of workplace strategies continues, with Currys plc completing a major restructuring of its London office portfolio in response to evolving post-pandemic working practices.

The electronics retailer, which rolled out a flexible working policy for 1,500 employees during the pandemic, has reported increased productivity, improved employee satisfaction, and significant cost efficiencies as a result.

With its 150,000 sq ft headquarters at 1 Portal Way, Acton no longer fully utilised, Currys plc made the strategic decision to downsize and relocate into flexible offices at WeWork Waterloo. The move better aligns the company’s real estate footprint with its hybrid model of working.

Lease Surrender Negotiated

Frost Meadowcroft was appointed to advise on options for the Acton HQ, including potential re-letting, subletting, or lease assignment. Following detailed negotiations, Simon Kibble of Frost Meadowcroft successfully concluded a lease surrender with the landlord, Imperial College London.

The transaction was achieved through collaborative efforts with Iain Maxwell of Savills, who acted on behalf of Imperial, and Alice Sewell of Imperial College London, who led the negotiations from the landlord side. Frost Meadowcroft also worked closely with Paul Grafton of Currys plc to bring the deal to completion.

New Life for Acton Site

Imperial College London has since announced a partnership with Sciopolis, which will see 55,000 sq ft of the former HQ repurposed into a hub for early-stage science and technology ventures. The redevelopment will deliver affordable laboratories and offices, reinforcing West London’s position as a growing centre for innovation.

This outcome represents a positive result for all parties: Currys plc realigning its space requirements for a hybrid future, Imperial College advancing its innovation strategy, and West London gaining a new science and technology ecosystem.

See LinkedIn Post here