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The digital arm of the Spanish communications giant Telefónica has signed up to occupy 51,000 sqft of office space in the West End of London, it has been announced.
Halfords Media has also agreed a deal of its own to rent offices at the same newly constructed site called AirW1, which forms part of the Quadrant 3 redevelopment scheme in the heart of London’s West End.
Crown Estates is behind the project that sits just off the southern end of Regent Street, one of the best known routes in London, where all mixed-use Quadrant 3 buildings are now at 60 percent capacity overall.
Halford’s Media signed up to occupy 30,000 sqft of offices at AirW1 for the next 15 years, while Telefónica Digital is expected to move close to 400 employees into its offices at the site over the summer following an extensive fit out process.
The building is to be used as Telefónica Digital’s headquarters as it looks to expand what is a newly established subsidiary of a major player in the European telecoms industry. The Spanish group is probably best known in the UK for its ownership of O2 but it has a very sizeable global footprint.
Matthew Key, chairman and chief executive of Telefónica Digital, commented: “London is arguably the biggest hub for technology start ups outside of Silicon Valley and a global centre for the media and advertising industries.”
“Our decision to invest in having a significant presence in central London’s Regent Street is clear evidence of our determination to succeed in the digital space,” he added.
AirW1 is the primary office space aspect of the Crown Estates wider redevelopment project, with a total of 180,000 sqft of Grade A offices being offered across seven floors, with Telefónica now set to take the entire fourth and fifth levels.
David Shaw, head of Crown Estates’ Regent Street portfolio said: “Our AirW1 offices are part of our most significant project to date and signing a global brand like Telefónica reaffirms Regent Street’s position as the central West End’s leading place for business.”