Alternative investment giant Blackstone has started construction on its 226,000 sq ft European headquarters, which is located on the site of the former Lansdowne House in Berkeley Square, London. The commencement ceremony was attended by Blackstone’s CEO and Co-Founder Stephen Schwarzman, British Prime Minister Rishi Sunak and the US Ambassador to the UK, Jane Hartley.
According to a press release, the development is slated to support around 5,000 jobs and will be led by London commercial property developer CO—RE and architect AHMM. Construction is due to be completed in 2028.
Blackstone says the new headquarters “reaffirms the firm’s long-term commitment to the UK and Europe” and has doubled its headcount in London over the past three years to more than 650 people working across private equity, real estate and private credit. The firm’s notable investments in the UK include holiday and leisure company Bourne Leisure, Merlin Entertainments, which owns Alton Towers and Chessington, and software business group Civica. Blackstone has deployed more than £70bn in more than 100 UK businesses and investments over the past 20 years.
In a statement, Schwarzman said: “This is a great day for Blackstone. We’re proud to be one of the largest foreign investors in the UK and I am delighted to celebrate our next phase of growth after more than 20 years at Berkeley Square. Our expanded headquarters at the redeveloped Lansdowne House will be an important part of our story as we continue to build great companies across Europe.”
