25 January 2012
BNY Mellon Renews Leases on 152,000 sq ft at Canary Wharf
Canary Wharf Group plc (“Canary Wharf Group”) has renewed leases with BNY Mellon on 152,226 sq ft at One Canada Square, Canary Wharf, for a term of eight years from 1 January 2014 at a rent of £42.50 per sq ft.
The leases apply to levels 40, 41, 43, 47, 48 and 49 in One Canada Square, Britain’s tallest operational building at 50 storeys and one of the premier business addresses in the UK.
A rent-free period of 18 months will be granted from 1 January 2014. There will be tenant-only break options for levels 40 and 41 at the fifth anniversary of the reversionary term (1st January 2019), subject to a penalty payable by the tenant equating to ten- months rent.
Richard Archer, Head of Leasing at Canary Wharf Group said: “BNY Mellon has been a highly valued tenant at Canary Wharf for over 13 years and we are delighted that it has agreed to extend its occupation at Canary Wharf. This is another vote of confidence in both Canary Wharf and London.”
For further information please contact:
Canary Wharf Group plc
John Garwood /Hamish McDougall
Tel: 020 7418 2312
Elizabeth Adams / Lewis Clark
Tel: 020 7404 5959
About Canary Wharf Group
Canary Wharf Group is an integrated property development, investment and management group of companies.
Canary Wharf has a working population of nearly 100,000 people in a diverse range of sectors for some of the world’s leading companies. It has paved the way for the regeneration of London’s Docklands and one in five Canary Wharf workers now live in a local East London borough. It has helped London and the City consolidate its position at the centre of the business world.
Following the recent announcement to build a new headquarters for European Medicines Agency at 25 Churchill Place , the Group has plans in place to continue to develop Canary Wharf in the coming years.
The Group is currently constructing the Canary Wharf Crossrail station ahead of schedule and on budget, which is ready to receive the Crossrail tunnel boring machines in Summer 2012.
Canary Wharf Group also has joint ventures outside Canary Wharf at 20 Fenchurch Street (with Land Securities) and the Shell Centre (with Qatari Diar).
Canary Wharf Group is backing Tower Hamlets’ bid to become the UK ’s next city, as part of Her Majesty the Queen’s Diamond Jubilee celebrations in 2012. www.cityoftowerhamlets.com
About BNY Mellon
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.8 trillion in assets under custody and administration and $1.26 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.