Social media giant Facebook has entered an exclusivity period to let the entirety of Great Portland Estate’s 217,000 sq ft 1 Rathbone Place in Fitzrovia, W1.
In one of the largest West End leasing deals this year, Facebook is expected to occupy the space upon completion in 2017.
Facebook has been rapidly expanding, with large offices at 10 Brock Street, NW1, and 338 Euston Road, NW1.
It also took temporary serviced offices in June at Derwent’s, 2 Stephen Street, W1.
The £500m redevelopment of the former Fitzrovia Royal Mail sorting office covers 414,000 sq ft in total, including 42,000 sq ft of shops and 162 flats.
It comes as the West End continues to enjoy a flurry of major leasing deals driven by the tech sector.
In August, King Digital Entertainment signed for 65,000 sq ft at the Ampersand building on Wardour Street, W1, and Google has taken a further 180,000 sq ft at the S2 building at King’s Cross, NW1.
Private equity firm Carlyle Group is also close to taking 60,000 sq ft of space at the Crown Estate and Oxford Properties’ flagship St James Market project, SW1.
DTZ is acting for Facebook; Colliers International and Knight Frank advised GPE.
