TikTok, the social media platform owned by Chinese company ByteDance, has leased the whole of Kaleidoscope, the new 88,500 sq ft office building in London owned by Helical.
The lease is for a 15 year term with a tenant option to break at year ten and a market rent free period has been granted, said Helical in a statement.
Kaleidoscope sits above the Farringdon East Crossrail Station. Comprising ground and five upper floors, Kaleidoscope was the first over station development to complete on the Crossrail Line.
The property offers a 5,000 sq ft roof terrace with views across London, whilst also sitting adjacent to the green space of Charterhouse Square and utilises the Citigen District Network for its heating and cooling, benefitting from continuing investment into delivering low carbon energy.
Farringdon sits at the heart of London’s “Culture Mile” an area that is being transformed into a diverse arts and cultural hub celebrating the City of London’s future and its two thousand year history.
“We set out to deliver an architecturally striking and characterful building that would suit the fast growing creative and tech companies that are attracted to this highly accessible location. Kaleidoscope offers this together with excellent tenant amenities including a spectacular roof terrace and strong environmental credentials, thereby clearly responding to today’s requirements for wellness and sustainability. As a platform for billions of creators worldwide, TikTok is a perfect business for both the building and the area’s ambition to be a destination for culture and creativity,” said Matthew Bonning-Snook, Property Director, at Helical.
JLL and Pilcher London acted for Helical plc in the transaction.