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Warwick Business School spends £800k+ per year renting space in the Shard

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The business school at Warwick University is spending almost £1 million per year renting an entire floor of the Shard.

The school is spending £831,658.50 per year on renting the 17th floor of the 95 storey building.

A Freedom of Information request also showed that the school has spent £2.75m on the interior of the floor.

£1.8m was spent on construction, £397k on IT, £257k on furniture and £210k on professional fees.

The office is signed for a ten-year lease, totalling £11m over the ten years with renovation expenses.

It comes the same year as the £30m upgrades to the Warwick Business School’s buildings on the Coventry campus were completed.

The University of Warwick refused to specify how much the rent, services charge or energy bills would be, which are excluded from the rental agreement held by the Land Registry.

In an interview with the Warwick Globalist, WBS Professor of Financial Economics, John Thanassoulis said: “It raises the profile of Warwick [and] it allows Warwick to make a stronger and deeper connection with lots of businesses.”

He went on to claim: “The point of The Shard is that it’s an investment. That is, that £11 million over ten years – we’re only doing it because we think that we’ll make much more back.”

He did, however, admit that he didn't "think, to be honest, there was that much consultation with students.”

Boris Johnson, when opening the new space, spoke of how he was “sure the students that come here will find successful careers within our city’s thriving business sectors.”

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