Facebook finds new HQ at Tottenham Court Road UK which is going to cost 16.9 million pounds.

 

By Andrew Trotman

11:00PM BST 11 Sep 2015

 

Facebook has found a new home for its London headquarters.

The social network has signed a deal to take all the office space in Great Portland Estates' new Rathbone Square development in Fitzrovia, near Tottenham Court Road.

Facebook will lease 227,324 sq ft for 15 years at an initial rent of £16.9m a year, after receiving 30 months rent free. The contract does not include a break clause, so the company is tied into the entire 15-year term.

Staff are expected to move in when the building is completed in February 2017.

Facebook, led by founder Mark Zuckerberg, will lease a further 15,461 sq ft, subject to Westminster City Council agreeing to change the use from retail to office.