Tech

Netflix is reportedly set to triple London office space with new headquarters

Key Points
  • Netflix is reportedly planning to take over a lease on an 87,000-square-foot building in London's West End from outsourcing giant Capita. 
  • The U.S. streaming giant will keep one of its two existing offices in London. 
  • Netflix Co-Chief Executive Reed Hastings has previously spoken about the downsides of remote working. 
The Netflix logo is displayed on a wall at the company's Japan office in Tokyo.
Kiyoshi Ota | Bloomberg | Getty Images

LONDON – As the coronavirus forces some companies to scale back on their physical offices, Netflix is planning to triple the amount of office space it has in London and move into a new U.K. headquarters, according to a report from Bloomberg, citing sources familiar with the situation.

The California streaming giant is reportedly planning to move to a new 87,000-square-foot building in London's West End. The property, situated on Berners Street, was occupied by outsourcing firm Capita until recently, but Netflix is said to be taking over the lease.

Netflix did not immediately respond to CNBC's request for comment.

Netflix, which has almost 300 staff in Britain, currently rents about 30,000 square foot across two nearby buildings. It will reportedly keep renting one of these and have around 100,000 square foot of office space in London in total after the changes.

"As part of our ongoing commitment to the U.K., we are excited to expand our operations in London," a Netflix spokesperson told Bloomberg.

While some companies have embraced remote working, Netflix Co-Chief Executive Reed Hastings isn't a fan. Last month he told The Wall Street Journal that not being able to meet people face-to-face is a "pure negative." At the time, he said lots of companies will have staff working four days in the office and one at home.

Meanwhile, Capita is in the process of closing a third of its U.K. offices, according to the BBC.

Read the full story on Bloomberg here