LinkedIn is nearing a deal to establish a new London headquarters at Viridis Real Estate’s Ray Building in Farringdon, EC1.
The social networking service for professionals is in exclusive talks to lease floors three to seven, totalling around 57,500 sq ft, at the redeveloped former Guardian HQ. Quoting rents at the 113,000 sq ft building start at around £70 per sq ft and increase for the higher floors.
Viridis, the real estate vehicle of the Saudi Jameel family, acquired the site for around £29m in 2012. The AHMM-designed redevelopment includes terraces at every level and ground-floor space for shops, a gallery and restaurant or café space.
The deal will leave 32,000 sq ft of office space available at the building across the first and second floors.
LinkedIn currently occupies just under 50,000 sq ft in AXA Real Estate’s Castlewood House, 77-91 New Oxford Street, WC1, and has the option to activate a break clause in its lease in mid-2018.
The company was founded in Silicon Valley in 2002 and was sold to Microsoft in December 2016 for $26.2bn (£18.5bn). It now claims more than 500m users in more than 200 countries.
Colliers International is advising LinkedIn; Knight Frank and Cushman & Wakefield are joint letting agents for office space at the Ray Building.
All parties declined to comment.
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