Although, Nokia has yet to confirm final terms, it has been revealed by the Independent Newspaper that Nokia is close to selecting a 60,000 sq ft office at Kingdom Street in Paddington.
Big names like Marks & Spencer and Kingfisher retail groups occupy office space at the W2 office development. But, more importantly for Nokia, leading mobile phone networks like Vodafone and Orange already rent offices in Paddington Central. The Finnish mobile phone maker had previously announced that as part of a major cost-cutting programme, it will close a 250,000 sq ft R&D office in Farnborough, Hampshire and its original London office rental in Southwark.
Last week, at a meeting in London, Nokia executives provided staff with an update on the latest restructuring and relocation plans.
A Nokia spokesperson would not confirm details of the move but stated that staff had only been informed that "a new location for UK employees will be found in London".
CBRE, who are advising Nokia on its search for office space, had recently been instructed to look for approximately 70,000 sq ft offices in London. The office search area has now focused on offices in Paddington in west London, after Nokia ruled already out the following locations.
A Heathrow office rental at Stockley Park, and Surrey offices in Weybridge or Woking were all discounted in favour of a central London HQ, as the firm wants to be in the right place to attract the right calibre of staff.
During the selection process offices in Old Street and the East London Tech City were ruled out despite their growing popularity with start-ups and dot.com corporations. Most recently Google announced plans to open a 7-storey Shoreditch office building to serves as an incubator for web developers.