TikTok To Lease More Office Space In London
UNITED KINGDOM – Despite political tensions between China and the UK, popular video hosting platform TikTok continues to expand rapidly and is in negotiations to lease a new London office building close to its present headquarters in the country, reported Bloomberg on Wednesday midnight (26 October, SGT).
Sources revealed that the social media behemoth, which is owned by ByteDance, is in talks to lease office space within the Verdant project at 150 Aldersgate Street close to Farringdon district.
In particular, the video hosting platform intends to occupy the entire 11-storey London office property spanning 134,000 sq ft, said the sources who requested anonymity as the negotiations are private.
When contacted, a representative from TikTok refused to comment on the news.
Notably, the frostier ties between China and the UK have impacted the social media behemoth’s expansion plans in the country. In July 2020, the Sunday Times reported that the tech firm suspended talks to construct a global headquarters in the United Kingdom after the authorities limited the usage of Huawei Technologies products in the nation’s 5G infrastructure.
Instead, TikTok has expanded its presence rapidly in Dublin while leasing a more modest headquarters in the UK at the Kaleidoscope building in Farringdon.
According to a recent report from React News, the Singapore-based owner of the Dublin office property, Mapletree, is now mulling to divest the commercial property.