Facebook has agreed a deal to occupy all of the office space WeWork has let from Almacantar at 125 Shaftesbury Avenue, WC2.
The tech giant has signed to occupy around 140,000 sq ft for at least two years at the 190,000 sq ft building as it rapidly expands its London footprint.
Facebook opened a new 227,324 sq ft London headquarters at One Rathbone Square, W1, last December and is in advanced negotiations to let more than 500,000 sq ft at King’s Cross.
The deal reflects the latest stage of WeWork’s evolution as it has started marketing whole floorplates within its expanding London office portfolio, which totals more than 2.6m sq ft.
Earlier this year the serviced office provider appointed Cushman & Wakefield to market office space it has let at Almacantar’s 280,000 sq ft Two Southbank Place, SE1 and Aermont Capital’s 110,000 sq ft One Poultry, EC2.
WeWork has also been targeting “enterprise members” – the label it uses to describe companies with 1,000 employees of more – which now make up more than 20% of its total membership. Members include HSBC, Microsoft, Samsung, LinkedIn and Pinterest.
The Facebook deal is expected to boost the sales process for 125 Shaftesbury Avenue.
Almacantar appointed Cushman & Wakefield and CBRE earlier this month to relaunch the sale of the building, seeking offers in excess of £286.5m.
All parties declined to comment.
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