Facebook leases huge Kings Cross offices to join Silicon giants Google and Youtube in new Silicon area | City A.M.
Facebook has leased a huge plot of new offices in Kings Cross, joining Silicon neighbours like Google and Youtube nearby in one of the area’s largest ever commercial deals.
Comprising 611,000 square feet (sq ft) and 6,000 workstations, the two buildings mark a significant step in the commercial development of Kings Cross, with the new deal accounting for roughly 15 per cent of the area’s total office space.
Hailed by mayor of London Sadiq Khan as “further evidence that London is open for business and a world leading destination for major tech companies”, the two new offices will include roof gardens, a theatre and retail space.
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Tech giants such as Google and Youtube have already moved into large nearby offices, while Universal Music is set to to move into a new headquarters at Four Pancras Square later in September this year.
The news also comes only seven months after Facebook opened a 247,000 sq ft site in Rathbone Place in Fitzrovia, creating 800 new jobs.
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The new offices, which have not yet been built and are set to open in 2021, will see Facebook double its current UK floorspace.
Steve Hatch, Facebook’s Managing Director for Northern Europe said: “The UK is one of the best places in the world to be a technology company and we’re investing here for the long term.”
Hatch added: “Many of Facebook’s most significant global products from Workplace to social VR applications for Oculus were developed right here in London, in what is now our biggest engineering base outside the US.”
Newly-released CGI images show the Facebook plans for the new offices, both on 11 and 21 Canal Reach, as well as P2 on Lewis Cubitt Square.
Will Colthorpe, partner at Kings Cross Central Limited Partnership, said: “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.”