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Meta Forks Out $180 Million Penalty to Surrender Lease on Huge London Office

The social media giant never moved into the property and has paid the equivalent of seven years’ rent to get out of an 18-year obligation.

Meta give up prime London office space.

Francis Mascarenhas/Reuters

By Tom Sykes

Meta has paid a staggering $180 million to break its lease on a huge London office that it never moved into, in the latest fallout from the remote work trend kickstarted by the coronavirus pandemic. The Financial Times reported that Meta had another 18 years on its lease for the prestigious central London building, 1 Triton Square, and had paid the equivalent of about seven years of rent to get out of the deal. The FT said Meta was now planning “to sublet or surrender close to 1 million square foot of office space in Europe, mostly in London and Dublin.” Meta rented the space in 2021 but never moved in.

Read it at Financial Times

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