Cazoo has followed its recent pre-launch recruitment drive with a move to secure tenancy in a new 17,500 square foot head office in Euston, London.
The brainchild of Zoopla founder Alex Chesterman is set to enter the used car online marketplace sector later this year and has recruited a raft of industry talent from the likes of Auto Trader, Manheim and Tesla to back its bid to make an immediate impact.
Now the business is preparing to move into a new headquarters after signing a five-year lease to sublet the warehouse-style building located on Chalton Street in Euston, London NW1 from The Boutique Workplace Company.
The new building, called The Connolly Works, is located directly between Euston and Kings Cross stations and Cazoo said that the facility will provide “much-needed additional space” as it continues to expand its team which has already grown to over 100 people in six months.
The business is expected to move into its new HQ by the end of this year.
Alex Chesterman, Cazoo’s founder and chief executive, said: “We are excited to have found such a fantastic space that has such an interesting history with the UK automotive industry and is only a stone’s throw from our current offices.
“The new building will give us room to grow and we are looking forward to moving in later this year once we have added our identity and branding and made it our new home.”
Daniel Wheble, chief executive of The Boutique Workplace Company, said: “Our original plan was to subdivide the building into 30 separate office suites for multiple tenants.
“However, Alex and his team have a strong track record of building great businesses and fantastic workspaces and we’re delighted to be partnering with Cazoo instead and look forward to welcoming them as a long-term tenant.”
Cazoo’s new offices were the former home of Connolly Leather, which supplied most of the luxury leather for the British car industry, including Aston Martin, Rolls-Royce, Bentley, Jaguar, Daimler and Rover as well as global brands including Ferrari and Maserati.
Chesterman announced his move into the automotive space late last year after raising £30 million to drive his new venture, Cazoo.
Speaking to The Times newspaper at the time, Chesterman said: “It is one of the biggest retail spaces in which you can’t transact online in this country.
“Why should buying a car be different from buying anything else?”
The launch of Heycar – a new online marketplace backed by Volkswagen and Daimler – last week is said to have brought the number of online marketplaces available to car retailers to 16.