Labs signs fintech Thought Machine for Bloomsbury office
Flexible working company Labs has leased its entire office building at 7 Herbrand Street, WC1, to fintech group Thought Machine.
The five-year, fully managed deal will see Thought Machine take all 67,000 sq ft at the art deco building in Bloomsbury for its global headquarters, as it looks to accommodate global expansion.
Thought Machine provides cloud-based IT infrastructure for banks and financial institutions. Since it was founded in 2014 by British entrepreneur Paul Taylor, it has grown to more than 500 employees globally, with offices in Sydney, Melbourne and New York.
Flexible working company Labs has leased its entire office building at 7 Herbrand Street, WC1, to fintech group Thought Machine.
The five-year, fully managed deal will see Thought Machine take all 67,000 sq ft at the art deco building in Bloomsbury for its global headquarters, as it looks to accommodate global expansion.
Thought Machine provides cloud-based IT infrastructure for banks and financial institutions. Since it was founded in 2014 by British entrepreneur Paul Taylor, it has grown to more than 500 employees globally, with offices in Sydney, Melbourne and New York.
The move will take Thought Machine into London’s so-called Knowledge Quarter, which has grown increasingly attractive to technology-focused tenants in recent years. The tech company will move out of its existing premises at Albert House on Old Street, EC1.
The building sits next to Russell Square and includes modern workspace, breakout rooms, wellbeing facilities, a café, bar and a roof terrace.
Matt Wilkins, chief information officer at Thought Machine, said: “We decided to partner with Labs because they were able to help us build a modern, high-tech workspace designed to support the wellbeing of our people and maximise the benefits of new ways of working.
“At Thought Machine, the workplace is the heart of our culture and supports collaboration and communication. This new office is integral to our growth plans – it will enable us to recruit the best talent and build our company culture.”
Labs is the co-working arm of Labtech, the real estate company set up by Israeli billionaire Teddy Sagi. It provides office space to around 4,000 workers across its 10 London locations in Holborn and Camden.
Matt Watts, chief commercial officer at Labs, added: “As the enabler that supports the business goals and aspirations of Thought Machine, our unique, client-centric approach is completely transparent and gives the occupier ultimate control of its services and amenities within the space, for the best possible price.
“We ensure that everyone wins when the deal is signed, future-proofing the company for ambitious growth. We believe this deal is both ground-breaking and disruptive and could set a new standard for the London office market.”
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