The British Olympic Association (BOA) and the British Paralympic Association (BPA) will re-locate to a new purpose-built office space in the shadow of London’s iconic BT Tower in May 2019, it was announced today.
The two organisations will make the short move across the capital's Fitzrovia district from their current 60 Charlotte Street base to 101 New Cavendish Street.
GB Snowsport, the national governing body for ski and snowboard disciplines in the United Kingdom, will also re-locate to the new premises, extending their co-location with the BOA.
It is claimed the move will enable the BOA, an entirely self-funded commercial organisation that receives no public monies, to maximise its ability to invest in taking athletes to an Olympic Games through more favourable commercial terms over the life of the new lease arrangement.
Furthermore, the base will continue to act as a hub for the BOA and BPA’s membership - the national governing bodies - to utilise central London meeting space for their various governance and commercial needs.
"We are not a Government-funded body and, therefore, to be active in the commercial market it makes sense to retain our current location, and 101 New Cavendish Street is perfect for that purpose," BOA chief executive Bill Sweeney said.
"With the Tokyo 2020 Olympic Games planning at a critical stage, we also wanted to ensure we could retain our valued and highly-skilled staff and minimise disruption to Games planning.
"We are also delighted that our friends and colleagues at the BPA and GB Snowsport have agreed to join us at the new site, as we continue to strengthen what are already important and positive partnerships."
A comprehensive site search took place before 101 New Cavendish Street was identified as the new home of the Olympics and Paralympics in Great Britain and Northern Ireland.
"We are excited by the opportunities that an office move provides in stimulating innovation in the way the organisation works," Elaine Battson, director of finance and corporate services of the BPA, said.
"A priority for us is keeping our close working relationship with the BOA and we will continue to work in partnership at our new home."
Vicky Gosling, chief executive of GB Snowsport, added: "We have shared a small but ever-increasing section of office space with the BOA for almost a decade, and our recent merger with British Parasnowsports has clearly benefited working so close to the BPA.
"Nearly half of the entire Olympic and Paralympic teams from Pyeongchang  came from GB Snowsport disciplines and that percentage is only going to increase, so we’re excited to continue working alongside the BOA and BPA in a new and dynamic environment at New Cavendish Street."
In September 2009, the BOA and BPA moved in together under one roof in what were then newly-refurbished offices at 60 Charlotte Street.
The BOA was previously based in Wandsworth, while the BPA, also known as ParalympicsGB, had been renting office space at UK Sport's headquarters.
Charlotte Street was selected as an ideal option for both the BOA and the BPA as it is in the heart of London and easily accessible to many other stakeholders in the sporting landscape.