Meta plans London consolidation with Rathbone Square exit
Meta is set to close doors at its West End headquarters as it further consolidates its London office footprint.
The parent company of Facebook has outlined plans to move staff from its office at Deka’s One Rathbone Square, W1, in London’s Fitzrovia to its new campus at King’s Cross, N1.
Meta has six years remaining on its 15-year lease at Rathbone Square. It signed a deal to take the entire 227,322 sq ft office building in 2015 for a rent of £74.34 per sq ft with more than two years’ rent-free incentive, EG Radius data showed.
Meta is set to close doors at its West End headquarters as it further consolidates its London office footprint.
The parent company of Facebook has outlined plans to move staff from its office at Deka’s One Rathbone Square, W1, in London’s Fitzrovia to its new campus at King’s Cross, N1.
Meta has six years remaining on its 15-year lease at Rathbone Square. It signed a deal to take the entire 227,322 sq ft office building in 2015 for a rent of £74.34 per sq ft with more than two years’ rent-free incentive, EG Radius data showed.
Landlord Deka said it has not received any notice of termination, adding that if Meta decides to exit its lease, it would be able to quickly find a new tenant to take its space.
Deka said: “Meta currently leases the said offices in One Rathbone Square. We have not yet received any notice of termination of the lease. Apart from that, we are confident that we will be able to relet the office space quickly, should Meta decide to vacate the property.”
A spokesperson for Meta said: “We’re looking forward to consolidating our teams at Rathbone Square into our recently opened King’s Cross campus and our newly expanded Brock Street office.”
In September 2023, the tech giant surrendered its lease at 1 Triton Square, NW1, at a cost of £149m. It signed a lease to occupy the 310,000 sq ft building in September 2021 and announced it would be subletting the office one year later in December 2022.
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