RPS mulls leasing London office space and reinvesting in its services
The Royal Pharmaceutical Society (RPS) is considering leasing some “floor space” at its headquarters in east London and reinvesting the funds into its products and services.
The pandemic has demonstrated that RPS employees can work as efficiently and effectively from home, the RPS said in a statement today (April 26).
It is also “re-evaluating the use of its office space”, which may include renting some floor space at its 66-68 East Smithfield premises.
The east London building has been the RPS’s head office since 2013. It moved there after selling its Lambeth headquarters in a bid to save £400,000 a year in running costs.
The RPS needs a “home”
In a statement announcing the revaluation of the RPS estate, CEO Paul Bennett said it would be inconceivable to have an RPS without a building that members would recognise as “the home of pharmacy”.
However, he added that members would want the RPS to look at options “to see how we can make the most of the assets the organisation holds”.
“It’s important to note any income derived from renting space at East Smithfield would be additional revenue – and be reinvested into further developing our valued products and services,” Mr Bennett specified.
RPS president Sandra Gidley said: “In a changing environment, it is important that the society adapts and evolves. Members want us to focus on putting pharmacy at the forefront of healthcare, by looking at alternative income streams that provide us with additional revenue, we can do more work to advance our mission.”
GPhC begins ‘accommodation review’
The General Pharmaceutical Council (GPhC) has also begun its “accommodation review”, a spokesperson told C+D last week (April 20).
In 2019, the regulator revealed it was considering moving from its headquarters in Canary Wharf in east London in a bid to save money.
Asked by C+D whether the GPhC would follow other companies in their decision to move to permanent work-from-home arrangements, the spokesperson told C+D that the GPhC’s current lease at its main office expires in 2024.
No decision has yet been made at this stage on the GPhC’s accommodation review, the spokesperson added.
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