As you cast the spell, you draw a 10-foot-diameter circle on the ground inscribed with sigils that link your location to a permanent teleportation circle of your choice whose sigil sequence you know and that is on the same plane of existence as you. A shimmering portal opens within the circle you drew and remains open until the end of your next turn. Any creature that enters the portal instantly appears within 5 feet of the destination circle or in the nearest unoccupied space if that space is occupied.
Many major temples, guilds, and other important places have permanent teleportation circles inscribed somewhere within their confines. Each such circle includes a unique sigil sequence--a string of magical runes arranged in a particular pattern. When you first gain the ability to cast this spell, you learn the sigil sequences for two destinations on the Material Plane, determined by the GM. You can learn additional sigil sequences during your adventures. You can commit a new sigil sequence to memory after studying it for 1 minute.
You can create a permanent teleportation circle by casting this spell in the same location every day for one year. You need not use the circle to teleport when you cast the spell in this way.
* - (rare chalks and inks infused with precious gems worth 50 gp, which the spell consumes)
Hoard of the Dragon Queen supports this. Under Castle Naerythar is a permanent teleportation circle that leads to a lodge in the Greypeak Mountains. A wizard used to own both locations and used them to travel between them. A command word activates the portal and teleports everything inside the circle’s circumference. It was the first 5e adventure and low level players are supposed to use them, so it should be canon.
The combination of this and the description of the 7th lvl teleport-spell that only requires a verbal component makes for a confusing combination, but one (me for instance) could argue that travelling from circle to circle doesn’t require the consumption of spell slots. Only when travelling from anywhere else to a circle, a powerful spelcaster is needed.
In my campaign (Waterdeep, Dragon Heist; I love to give my players the massive freedom that a big city like Waterdeep gives even if it makes it very hard for me as a DM), there is a hidden and collapsed tunnel leading from the cellar of Trollskull Manor and a few chambers to the sewers that can also be entered via a manhole in Trolskull alley. The entrance from the sewers is aldo hidden by way of a secret door. In the main chamber there is a teleportation circle. The collapse of the tunnel made a victim, whose ghost haunted Trollskull Maor in the first place.
This gives the potential to send the party to faraway missions and has even more potential in later levels.