Private equity firm Novalpina expands with new Buckingham Green office

Novalpina, the private equity firm started by ex dealmakers at US buyout firm TPG, has agreed to more than double the size of its London headquarters.

The company, advised by property agent Crossland Otter Hunt, will move from Mayfair to 4300 square feet at the new Buckingham Green offices development between Victoria and St James’s. It gets a private roof terrace and is understood to currently be in around 1500 square feet.

It has signed a 10-year lease with landlord and developer London & Oriental for the new space.

The building launches later this week and Novalpina has agreed the first letting there.

Expansion comes after Novalpina was launched in 2017 by Stephen Peel, who previously ran TPG's London office, and his former colleague Stefan Kowski.

Property experts think a number of West End-based businesses are concerned about high-end space running low, and want to secure new headquarters now.

Agent JLL says there is currently 204,000 square feet of requirements for new space in London from private equity firms.

JLL and Savills are the leasing agents at Buckingham Green which also includes shops and flats.