Asian investor pays €182m for TikTok London office

Helical has exchanged contracts on the sale of the single-asset company, Farringdon East (Jersey) Limited, which owns the long leasehold interest in Kaleidoscope, Lindsey Street, EC1, to Chinachem Group at a disposal price of £158.5 million (€182.86 million/$181.93 million).

The 150-year lease from Transport for London was granted in 2018. The six –story, 88,580- square-foot office building sits above the Farringdon East Crossrail Station and is occupied in its entirety by TikTok, the popular short-form video hosting service owned by Bytedance,  which  took a 15-year lease in March 2021

“Kaleidoscope was the first over-station development to complete on the Elizabeth Line and we were able to attract one of the world's fastest growing tech businesses due to its striking design, highly accessible location, excellent amenities and strong environmental credentials. We will now seek to recycle the proceeds from the sale into delivering new, highly sustainable 'best