Facebook said to move to London office, close to Google HQ

London - Facebook is in negotiations to lease a new London office close to the planned headquarters of Google, two people with knowledge of the talks said.

The company plans to lease at least 400 000 square feet of space at the King’s Cross Central development, where Google parent Alphabet will develop its new UK headquarters, the people said, asking not to be identified because the talks are ongoing. The size of the lease could change and it’s not certain a deal will be completed, they said.

A spokesperson for Argent, which is developing the project, and a representative of Menlo Park, California-based Facebook declined to comment.

The world’s largest technology companies, including Apple and Amazon.com, have leased major new offices in the UK capital, lured by the abundance of skilled young workers.

Apple plans to move staff into a new London headquarters at the Battersea Power Station project, and Amazon has recently begun moving staff into a new UK base in the Shoreditch district on the edge of the City of London. 

Facebook has already signed an agreement to lease a UK office close to Oxford Street. The company chose not to exercise an option to lease a third, smaller property on Oxford Street, developer Great Portland Estates said in January.

There is about 800 000 square feet of office space still available at the King’s Cross development across several planned buildings. The largest is 11-21 Canal Reach, which will have about 400 000 square feet, according to the development’s website.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

ZAR/USD
16.58
(+0.81)
ZAR/GBP
21.39
(+0.96)
ZAR/EUR
19.49
(+0.55)
ZAR/AUD
11.93
(+0.41)
ZAR/JPY
0.16
(+0.84)
Gold
1905.26
(+0.93)
Silver
23.78
(+1.90)
Platinum
898.00
(+0.92)
Brent Crude
42.12
(+1.78)
Palladium
2320.50
(+0.74)
All Share
54446.78
(+0.34)
Top 40
50159.14
(+0.23)
Financial 15
10158.72
(+0.86)
Industrial 25
73766.43
(+0.79)
Resource 10
53032.08
(-0.66)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1404 votes
It depends on how the funds are used.
73% - 9095 votes
No. We should have gotten the loan elsewhere.
16% - 2001 votes
Vote