Having sold Belgravia House – its Westminster offices since 1995 – to a private investor in March 2021 for £14.5m, RCVS Council agreed the purchase of the new building for £20.5m.
The additional cost has been funded from College reserves.
The new building is a converted Victorian warehouse with open-plan office space spread across six floors.
The new premises are large enough to accommodate more staff and for the College to host more meetings and events.
Alternatively, the space can be used for greater social distancing and hybrid working if needed.
The College says any unwanted space can be rented out.
Two existing tenants will continue to lease office space at the premises for the time being and some refurbishment work will need to be completed before the College and RCVS Knowledge teams can start moving in.
Following Council’s earlier decision to terminate the lease on Belgravia House at the end of March 2022, RCVS staff will continue to work either remotely, or in temporary office space leased from the workplace provider, WeWork, in Chancery Lane.
The College says this arrangement offers a significant saving over leasing back Belgravia House.
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.
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