Airbnb UK has moved out of trendy Shoreditch and set up shop in Clerkenwell

Sam Shead

Jan 24, 2016, 14:30 IST

Vehicles negotiate the Old Street roundabout in Shoreditch, which has been dubbed 'Silicon Roundabout' due to the number of technology companies operating from the area on March 15, 2011 in London, England. The relatively low rental rates and proximity to media and internet companies has made the area close to the roundabout a prime location for IT firms and web entrepreneurs. (Photo by )

Airbnb previously based itself in Shoreditch, which is home to Old Street's "Silicon Roundabout".

Airbnb UK has relocated its London office from Shoreditch to Clerkenwell, Business Insider has learned.

Up until two weeks ago, the San Francisco-headquartered company, which allows people to let out their spare rooms and properties, was based on the top floor of 2-4 Great Eastern Street, a short walk from Shoreditch High Street Station. It is now based at 40 Compton Street, a warehouse conversion just over a mile to the west, Business Insider understands.

The warehouse was converted into the office space that exists there today in 2009 at a price of £2.9 million, according to David Long Architects.

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The reason for the move is not clear at this stage but it's possible that Airbnb - a fast-growing company with plenty of venture capital behind it - ran out of space in its current office, which can accommodate up to approximately 20-40 people.

Business Minister Sajid Javid is expected to attend the official opening of the new office on Monday.