Music streaming service Spotify has taken around 100,000 sq ft of space at Blackstone’s Adelphi, WC2, representing a major expansion for the firm.
The Swedish digital giant will be establishing its new London headquarters there once it has exited its current 20,000 sq ft premises on Argyll Street near Oxford Circus.
It initially chose to sublet 62,000 sq ft from private members’ club Neuehouse, but has since decided to lease further space to take the total to 100,000 sq ft.
The 330,000 sq ft art deco Adelphi is one of the largest single office buildings in the West End. Since signing up the Economist in October 2016, the Adelphi has secured as tenants Conde Nast, Finsbury, AT Kearney and Black Rock PM.
Spotify was valued at $8.5bn in a recent funding round, and has 18 offices globally.
Blackstone exchanged contracts to buy the Adelphi for around £260m in 2012, reflecting a 7.5% yield.
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