Snapchat’s new office latest in a string of London tech lettings

Workspace news

The multi-media mobile app is set to triple its presence in the capital as it signs for 20 000 sq ft at Shaftesbury Avenue in Soho.

The Silicon Valley firm’s new subsidiary, Snap Group, signed a deal for two floors at number 77, making the UK its main hub outside the US.

‘Allows us to pay taxes in UK’

A Snapchat representative stated, “Going forward, we will bill our advertising revenue from the UK [and a few other countries] through a UK entity. This allows us to pay taxes in the UK, which we believe is part of being a good local partner as we grow our business.

“We want to pay taxes in the countries where we sell advertising, and this is an important step in building the infrastructure to achieve that goal.”

snapchat
EPC ‘B’ rated office in the heart of Soho / Covent Garden

The office is owned by Dolford Property Holdings who have completed a £13m refurbishment on the building, adding a floor to make the total lettable office space almost 60 000 sq ft. Snap Group will share the workspace with Bank of East Asia and Quayle Munro, a financial adviser.

Other tech companies increasing their presence in the capital include online travel company Expedia who signed for an additional 154 000 sq ft in Clerkenwell and online retailer ASOS who added 40 000 sq ft to its north London headquarters.

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