Transferwise expands at the Tea Building

Transferwise has agreed a 54% increase in space at Derwent’s Tea Building in Shoreditch, E1. The online money transfer service has signed a new five-year lease, expanding its space to 48,950 sq ft. Transferwise said the move supports a hybrid model of home and office working. It will benefit from an 11-month rent-free period, with a new rent in line with passing rent and ERV. Darren Graver, office expansions lead at TransferWise, said: “As many people mix working from home, the office, and remotely, we know just how important flexibility is to our team. Following internal workplace surveys and focus groups, we learned that our people wanted a hybrid working model that caters to that as well as it can. “By expanding our office space, and offering more flexibility for our teams to work however and wherever suits them best, we can ensure we are equipped for the future of work.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette   Photo: Derwent London