Property developer Great Portland Estates is leasing its entire Rathbone Square development, by the Tottenham Court Road Tube station, to the social media giant, on a 15-year term.
Neil Thompson, portfolio director of Great Portland Estates, said:
We are delighted to welcome Facebook into the Great Portland Estates portfolio and we look forward to providing them with a world class London headquarters in this outstanding development.
The space is due to be completed in early 2017, and Facebook will pay an “initial rent of £16.9m - although the first 30 months will be rent-free.
The company has also been given rights of first offer on the surrounding office space, including developments on 1 Dean Street and 76 Oxford Street.
Great Portland Estates shares were down 0.2 per cent following the news.