Facebook is set to double its office space in London by moving to a new Kings Cross HQ by 2021, where Universal Music will soon be based.
The social media company will acquire 611,000 sq ft of office space across three buildings, after signing what’s said to be one of the most significant commercial deals in the city this decade with King’s Cross Central Limited Partnership (KCCLP).
Facebook’s new home will be based near Universal Music UK, who are in the process of moving from High Street Kensington to a new 177,000 sq ft King’s Cross office, as well as current tenants PRS for Music, Vevo, Google and Havas.
The office will include over 6,000 workstations, enabling the company to increase the 2,300 UK staff it will be employing by the end of 2018.
The significance of the deal lies in the fact that around 15% of the total commercial space at King’s Cross will be let in a single deal, which includes buildings P2 on Lewis Cubitt Square (pictured) and 11 and 21 Canal Reach.
11 and 21 Canal Reach have been designed by architects Bennetts Associates and feature ten and twelve floors of modern Grade A office space respectively.
With double-height receptions and 42,000 sq ft of landscaped roof gardens and terraces, the buildings located in the ‘Western Yards’ of King’s Cross offer views over Central London.
P2 will also house a new theatre for London, a fifth-floor wraparound terrace and retail space at ground level.
Facebook currently has UK offices in central London locations Rathbone Place and Brock Street.
Rob Cookson, Head of Global Real Estate at Facebook, said: “The UK is one of the best places in the world to be a technology company, and Facebook has benefitted from that since we arrived in 2007.
“We chose King’s Cross because it has considerable expansion opportunities, great transportation access, and is part of a vibrant community.”
rob cookson, facebook
“Our base in London has grown from four people to become our biggest engineering hub outside of the US, and by the end of this year, 2,300 people will be working for Facebook in the UK.
“London is home to teams that build some of Facebook’s significant global products like Workplace, social VR applications for Oculus, and the tools that protect our community around the world.
“We chose King’s Cross because it has considerable expansion opportunities, great transportation access, and is part of a vibrant community.”
“We welcome Facebook’s long-term commitment, which is further evidence that London is open for business and a world-leading destination for major tech companies.”
sadiq khan, mayor of london
The Mayor of London, Sadiq Khan said:“This investment is great news for the capital.
“We welcome Facebook’s long-term commitment, which is further evidence that London is open for business and a world-leading destination for major tech companies.”
Will Colthorpe, Partner at KCCLP commented: “We are thrilled that Facebook will be coming to King’s Cross and has chosen to expand its business here.
“This deal cements King’s Cross’ reputation as one of the UK’s leading tech destinations.
“It is a very exciting time for King’s Cross. Retail centrepiece Coal Drops Yard opens to the public in October, and ten years after first breaking ground on the development, some of the world’s biggest brands now call this their home.”Music Business Worldwide
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