J Sainsbury consulted Delta Two, the Qatari-backed fund proposing a £10.4 billion bid for the supermarket group, on its plan to move its head office from Holborn to King’s Cross.
The retailer is planning to relocate from Holborn, where it moved in 2001, to King’s Cross Central, a new, £2 billion development, by 2011 — 15 years before the lease on its present head office runs out.
Sainsbury’s will seek another tenant for the Holborn office, the former headquarters of the Mirror Group, to take on the lease, which expires in 2026.
The supermarket group said today that the relocation would “significantly reduce Sainsbury’s central office costs”, but refused to divulge how its new rent would compare with its present £55-a-square-foot deal, totalling about £18.1