Brooks Macdonald has been silent on costs associated with its Edinburgh office move after filing an update to markets on Tuesday about the £1.2m costs associated with its London relocation.
The wealth manager is merging the workforces in its two existing London offices and relocating to one location in the City, after also announcing an office move in Edinburgh earlier this week.
Brooks has signed a six-year lease at 21 Lombard Street (pictured).
The group intends to exclude the costs from its underlying profit in its full year results for 2020. It will move in the second half of the financial year ending June 2020.
However, Brooks refused to provide details about its office move in Edinburgh, also announced this week, which will see it move to Hanover St in August.
Portfolio Adviser asked about the costs associated and the capacity of the new office compared to the old location.
Brooks declined to comment on both questions.
Instead, in a press release, John Wallace, managing director and co-head of UK investment management, said: “We are delighted to be moving to Hobart House which will provide us with a high-quality and welcoming environment. Additionally, being based in the city centre is fundamental for both clients and colleagues.”
Regarding the London move, Caroline Connellan, chief executive of Brooks Macdonald, said: “Bringing our London-based teams together at 21 Lombard Street is an important step in delivering our growth ambitions.
“It will allow us to provide an improved experience for clients and advisers, and a better environment for our people – supporting employee engagement, collaboration and wellbeing.”
