3i to leave Waterloo Road

3i Group and Land Securities announced on Monday that terms have been agreed for 3i to move its London office to Land Securities' new development at Cardinal Place.

3i will be taking a lease over three floors of the recently completed 16 Palace Street, Victoria, SW1, accommodating all of its London staff.

"Cardinal Place is an excellent location which will provide a modern working environment for our employees and partners, and reflect 3i's position as a leading international private equity firm," said Patrick Dunne, 3i's Group communications director.

3i's London offices are currently at 91 Waterloo Road which houses about 300 staff on 12 floors of office space.