Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
Twitter is being sued by the Crown Estate after allegedly failing to pay rent on its London headquarters. The company, which was recently bought by billionaire Elon Musk for £35billion ($44billion) in October last year, had been occupying two floors of a property on Air Street in Piccadilly Circus but had allegedly failed to pay rent in arrears for its first-floor lease.
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
According to the Telegraph, the estate in central London belongs to the King, leading the Crown Estate to file a claim against Twitter Incorporated and its UK subsidiary in the High Court.
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
A Crown Estate spokesman confirmed court proceedings had been issued in the dispute over Twitter’s UK headquarters.
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
The Crown Estate presides over thousands of acres of Crown-owned land across the UK, including 10 million square feet of property in London’s West End.
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
Employees of Twitter have operated out of the first floor of the property since 2014, signing a lease for the third floor in 2021 for £2.6million a year.
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
The dispute is believed to be over the first floor residency, for which the rent arrears allegedly remain unpaid.
Elon Musk's Twitter Sued Over Failure To Pay £2.6million-a-year Rent On London HQ | UK | News
All Twitter signs and logos have been removed from the building but a member of staff said the company still had a presence at the site, according to the Telegraph.
A spokesman for the Crown Estate said it had tried to contact Twitter about the alleged rent arrears.
It comes as the 51-year-old billionaire Tesla CEO and Twitter owner Mr Musk is facing a class action lawsuit filed by Tesla investors alleging he misled them with a tweet saying funding was secured to take his electric car company private — for £340 ($420) per share.
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