Firm shifts head office to London
Maidenhead: But Costain will maintain presence in town
A major engineering company has announced it is moving its headquarters out of Maidenhead.
Construction firm Costain announced on Tuesday that it is moving its headquarters – currently based in the Vanwall Business Park – to the Can of Ham building in the City of London.
But the company, which is listed on the London stock exchange and has links to Maidenhead dating back decades, has confirmed it intends to maintain a presence in the town for employees based there and is finalising a suitable location.
A spokesperson said Maidenhead employees would either continue working in a downsized office in the town, transfer to the London office, or switch to homebased contracts.
Costain was responsible for constructing the Nicholsons Walk development and took up a tenancy in the offices back in 1975 ‘to increase the centralised efficiency of their home operations’.
The company took out a full page Advertiser advert in September of that year, saying ‘one of Britain’s biggest construction companies’ was coming to the town in a move that was ‘making news and creating opportunities’.
It vacated the towering block more than three decades later, moving to Costain House in the Vanwall Business Park in April 2008.
Announcing the move, Alex Vaughan, Costain’s chief executive, said: “This is an exciting new chapter in Costain’s 159-year history and one that points to a bright future.
“I’m really looking forward to the tremendous opportunities that the new head office will provide to all our people and our customers.
“Over the last few years, working requirements have changed, with increased colocation with our customers and dynamic working.
“We need an office that makes it easier for our people, customers and partners to connect, collaborate and create, and our new head office will do just that.”
The new office space will provide more desks for employees in the heart of the City of London on the seventh floor of 70 St Mary Axe, also known as the ‘Can of Ham’ building.
Costain is the latest major company to announce it was moving its UK headquarters out of Maidenhead.
In January, tech giant Adobe announced it would be moving to Reading by the end of 2024.
“The new site will allow us to further enhance the employee experience, gain access to upgraded amenities, and be in closer proximity to our customers,” it said.
Telecommunications business Three also vacated its Maidenhead premises in
2021 to move to Reading, while Mattel has also moved its UK headquarters to Slough in recent years.
But the council leader, Simon Werner, said ‘just as companies are moving out of their old premisies, other companies are moving into our new buildings’.
He pointed to new lettings, including Stanley Black and Decker’s upcoming move to Star House, and companies such as Lexmark and Avire who have invested in Maidenhead office space.
Cllr Werner added: “Costain is currently in the Vanwell Business Park – not in the town centre – and I understand they are continuing to have offices in Maidenhead
“Business practices are clearly changing since COVID with hybrid working being the norm, so it is sensible that companies are reconsidering what office space they actually need and then downsizing
“I think all the new companies moving in show that after a long period of decay, companies are reconsidering Maidenhead – I mean, with its fantastic schools, beautiful countryside and great transport links, why wouldn’t you want to move to Maidenhead?”
Costain said it expects to complete its move to its London headquarters in the second half of 2024.