More Landlords Sue Twitter Over Unpaid Office Rent
GLOBAL – More landlords have initiated legal proceedings against Twitter due to unpaid office rent. This time, it’s for office space located in the United Kingdom and another one in San Francisco, reported the Associated Press on Tuesday evening (24 January, SGT).
According to documents filed last Friday with California’s Superior Court, Sri Nine Market Square has taken Twitter to court after the social media platform failed to pay rent on time for its San Francisco headquarters at 1355 Market Street.
The office landlord stated that Twitter “breached the Lease by failing to pay monthly rent and additional rent” amounting to US$3.4 million for January 2023.
Sri Nine Market Square revealed in the filing that the social media platform occupies three floors in the office tower since 2011 and it was late on a similar amount of rent in December 2022, which the landlord recouped from a letter of credit that was put up as a security deposit by Twitter.
But after using those funds, Twitter still owes US$3.16 million in unpaid office rent, said the landlord, which is also seeking late fees, interest, as well as lawyer fees. At present, the social media platform is still occupying the commercial property.
In the United Kingdom, the Crown Estate has commenced legal proceedings against Twitter after the social media platform fell behind on rent for its office close to London’s renowned Piccadilly Circus.
The Crown Estate, which owns some of the most expensive properties in central London, disclosed that it started court action after prior contact with Twitter over the unpaid office rent. While it’s in discussion with the social media platform, it did not provide additional details.
The landlord holds a large real estate portfolio that includes much of London’s Regent Street and Windsor estate. It’s an independently run business, but its profits are utilised as a benchmark for the financing of the Sovereign Grant, which is taxpayer’s money that funds the official work of the UK’s royal family.