TikTok UK’s new landlord: “Demand for high quality new office space in Central London will remain strong”
The chief executive of the landlord behind a new block that will become home to TikTok UK, has said demand for new office space in central London “will remain strong”.
Helical’s Gerald Kaye expressed the view despite some market concerns over how demand will look post-pandemic. Scores of office workers have done their jobs remotely since March 2020.
A number of bosses are expected to embrace a mix of home and office hours in the future, while a number of companies have said they will look to reduce office space.
But, in a vote of confidence in London and a boost for the capital’s leasing market, TikTok, the popular short video app business, has just inked a deal for the whole of a new 88,500 square feet office building called ‘Kaleidoscope’ above the Farringdon East Crossrail station.
Property developer Helical’s Kaye today told the Evening Standard: “The letting to TikTok underscores our view that demand for high quality new office space in Central London will remain strong.”
He added: “It also shows that while some more established companies may be reducing their office space, they are being replaced by new dynamic organisations which relish the collaboration facilitated by top quality office space.”
Elsewhere in the offices sector today, McKay Securities, which has properties in London and the South East, said between October and March 5 it completed eight new lettings.
Chief executive Simon Perkins said the firm’s view is that “the office will continue to play an integral part in the future success of UK business”.
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