TikTok has closed a deal for a temporary office move to Farringdon, as work on its new headquarters continue.
The Chinese-owned social media giant has taken 41,530 sq ft across six floors in CIT Group’s Hylo Building, EC1, as previously tipped by EG.
EG understands the business will occupy the space on a short-term lease of under five years while it waits to move into Topland Group and Beltane Asset Management’s Verdant development nearby.
TikTok signed a lease to occupy the entire 140,000 sq ft Verdant building in 2023, but the scheme is not due to complete until September this year.
In October, EG revealed the firm was homing in on the Hylo Building as part of a search for interim office space.
The news comes after software company Salesloft sealed a deal to take space at Hylo for its new London headquarters. It signed a five-year lease at £82.50 per sq ft for 7,000 sq ft on level 12.
CBRE acted for TikTok. Both parties declined to comment.
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Image © CIT Real Estate
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