Snapchat is taking more space in its new London HQ at HB Reavis’ Bloom Clerkenwell, EC1.
The social media company is close to agreeing a deal for the 12,073 sq ft top floor at £100 per sq ft – between £10 and £15 more than rents for lower floors. The latest deal also includes a 6,753 sq ft terrace.
The expansion will increase the company’s space in the building from 114,924 sq ft to around 126,000 sq ft of offices spanning six floors and 14,719 sq ft of terraces across three floors.
Early last year, Snapchat picked the building, which sits above Farringdon Tube station, as its new UK headquarters.
California-based Snapchat followed other big-name tech occupiers, including Depop and TikTok, in taking office space in Farringdon, which has become the go-to area of London for millennial and Generation Z-focused social media firms.
Snap Inc enjoyed a bumper third quarter, with a 6% increase in revenue to $1.128m (£947,000) compared to Q3 2021.
CBRE represented Snapchat; Compton and CBRE were the leasing agents. All parties declined to comment.
View top and average rents in EC1 >>
To send feedback, e-mail chante.bohitige@eg.co.uk or tweet @bohitige
