Expanding Expedia takes space in the Angel Building (UK)

Expedia, the world's largest online travel company, is taking 81,000 ft² (approx. 7,500 m²) over two floors at the 263,000 ft² Angel Building, a Derwent London scheme, in east Central London.

Angel building, London

The Angel Building in east Central London.

Advised by Cushman & Wakefield, Expedia will pay a rent of £3.33 million (ca. €3.75 million) a year on a 10-year lease, with no breaks and a rent-free period of 24 months. They will pay a rent of £40 per ft² on the 51,385-ft² fourth floor and £42.50 per ft² on the 29,875-ft² fifth floor.

Cushman & Wakefield assisted Expedia on the consolidation of its existing occupation in Orange Street and Seven Dials, Covent Garden by simultaneously subletting 36,000 ft² of its existing space to Facebook.

Henry Peto, Partner in the London Occupier Representation team who advised Expedia said; "The deal which involved two simultaneously transactions represents one of the largest in the West End this year. The acquisition of 81,000 ft² over two floors at The Angel will enable Expedia's business to continue to grow within a single building at a significant discount (on a pro rata basis), to their current cost base in Covent Garden."

Busaba Eathai, a modern Thai restaurant chain, has leased a 4,200-ft² retail unit at the south of the building. This follows the recent retail letting to Jamie's Italian.

Source: Cushman & Wakefield

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