Zilch Signs £77 Million Lease at Belgravia's 40 Grosvenor Place, More Than Doubling London Office Footprint
Zilch Signs £77 Million Lease at Belgravia’s 40 Grosvenor Place, More Than Doubling London Office Footprint #
UK payments unicorn Zilch has signed a 10-year lease on 33,160 square feet of office space at 40 Grosvenor Place in Belgravia, committing £77 million over the term as it prepares for further growth in the UK and Europe.
The company will occupy floors four and five of the building, managed by European real estate investment manager PATRIZIA, and plans to relocate from its current base at 111 Buckingham Palace Road in spring 2027. The new space, in Victoria, will more than double Zilch’s existing London office capacity and accommodate upwards of 400 employees.
Zilch described the investment, equivalent to roughly €91 million, as a signal of its intent to attract top talent and build the infrastructure needed to support its next phase of expansion. The company counts six million customers across its payments platform and has been growing quickly following a €150 million debt and equity raise completed in late 2025.
The office move follows several other commitments. Zilch has agreed to acquire Fjord Bank, a deal expected to close in the first half of 2027 that the company says will support its European push. It has also signed a multi-year partnership with Visa and a commercial agreement to serve as Arsenal FC’s official payment partner.
For PATRIZIA, which acquired 40 Grosvenor Place in 2012, the letting is part of a broader repositioning of the building. Ker Gilchrist, head of investment management UK at PATRIZIA, said the agreement with Zilch, following a pre-let with Cleveland Clinic London in 2025 for an 81,000-square-foot cancer treatment centre, demonstrated that active asset management could unlock the potential of existing buildings and attract high-quality occupiers with very different requirements.
The lease comes as attention turns to Zilch’s potential stock market listing. The company has been exploring a flotation on the London Stock Exchange, with reports pointing to a target date of late 2027. Zilch recorded revenue of £110.3 million for the year to March 2025, up 93% year-on-year, though it posted a net loss of £10.5 million, a figure that represented a 79% improvement on the prior year.
Gross merchandise value grew 73% to £1.9 billion over the same period, and gross margins widened to 49%. Zilch says the larger headquarters will help it compete for the engineering and commercial talent it needs to sustain that growth ahead of a potential listing.
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