The new RCVS headquarters at 1-2 Hardwick Street, Clerkenwell.

The College will move to Clerkenwell in a deal worth £20.5m.

The RCVS has completed the purchase of a new central London headquarters.

In a statement, the College said that it had agreed on the purchase of 1-2 Hardwick Street in Clerkenwell for £20.5m.

It follows the sale of Belgravia House to a private investor in March 2021 for £14.5m, with the additional cost funded from College reserves.

The statement reads: 'The new premises are large enough not only to accommodate a larger staff and more College meetings and member/associate events but also to cater for greater social distancing and hybrid working, if and when these might be required again in the future. Any unwanted space can be rented out, which would create income for the College whilst maintaining its investment.

'Two such existing tenants will continue to lease office space at 1-2 Hardwick Street for the time being and, although timescales are still to be finalised, some refurbishment work will need to be completed before the College and RCVS Knowledge teams can start to take some occupancy.'

Following the termination of the Belgarvia House lease at the end of March 2022, RCVS staff will continue to work either remotely, or in temporary office space leased at its Chancery Lane site.

The statement continued: ‘This arrangement represents a significant financial saving for the College, compared to leasing back Belgravia House from the new owners under the original arrangement.

'Alongside these flexible working options, Council and Committees will continue to hold meetings on a mixed basis of in-person, hybrid and remote, in order to minimise costs and improve sustainability, with longer or larger meetings held at external venues as and when necessary.’

RCVS chief executive Lizzie Lockett said: “Like any property purchase, it has been an extremely long and difficult journey to get to this point, with many challenges to navigate along the way, but I am delighted that we are finally able to announce our new home.

“Whilst we will have to wait a while longer before we can enjoy everything 1-2 Hardwick Street has to offer, we are very much looking forward to welcoming members of the professions to visit our new offices, and being able to host a variety of meetings and new events there for them."
 

Image (C) RCVS.