cinch, the UK’s fastest-growing online used car marketplace, is opening its headquarters in London, demonstrating its confidence in the UK’s capital recovery.
The online company, which only launched in October 2020 but is generating annualised sales of over 50,000 vehicles, will occupy 20,440 sq ft of space at the heart of King’s Cross.
The move will initially see 120 employees use the office with the potential for more as cinch continues its ambitious growth plans.
The Fjord Building, designed by Ben Adams Architects, is situated in a vibrant King’s Cross hub, surrounded by a number of global technology companies and innovative start-ups. Employees will have access to over 160 shops and 24 restaurants within the area, as well as transport links around London and across the UK.
Despite only launching eight months ago, cinch is now the largest online B2C marketplace for used cars in the UK. The business allows its c. 30 million unique visitors a year to part exchange their car and buy or finance quality-checked used cars fully online and have them delivered straight to their home.
The decision to open a larger space in London was the next logical step in the business’s growth strategy. The company intends to move in on 1st September 2021 and will be recruiting over the next few months to meet mounting consumer demand and capitalise on the business’s rapid growth.
Avril Palmer-Baunack, executive Chairman of Constellation Automotive Group, said: “We’re excited about our move to King’s Cross, which offers a fantastic location for our new headquarters and will support our rapidly growing business. As a city, London remains the best destination to attract high quality people. Although expectations around the future of the workplace continue to evolve, having world-class office facilities and excellent local amenities will play a vital role in shaping the cinch culture, fostering creative thinking, and accelerating the incredible breadth of innovation taking place within our business.”
Constellation Automotive Group, which also owns webuyanycar and BCA, recently raised over £1bn to turbocharge cinch’s growth across the UK and Europe.
The funds will be used to provide the group with the resources to accelerate cinch’s expansion and continue its extensive investments in people, technology, data science, infrastructure and brand building.