Friday 11 April 2014 – Media Release
Canary Wharf Group plc lets 58,500 sq ft to The Medical Defence Union and National Bank of Abu Dhabi
Canary Wharf Group has completed a lease with The Medical Defence Union (‘MDU’), the UK’s leading medical defence body, for 47,000 square feet of office space on levels 32 and 33 at One Canada Square, Canary Wharf. MDU will be relocating from their offices on the South Bank in late 2014 or early 2015. Under the terms of a new sub lease and subsequent lease MDU will occupy the whole of level 33 and part of level 32 for a term of 15 years.
The National Bank of Abu Dhabi will be moving into Level 28 in One Canada Square which will complement their premises in Knightsbridge. The new lease is for 11,500 square feet with a 10 year term.
These lettings reflect a recent spate of activity at Canary Wharf which, including EY, ICM Capital and Secure Trading have increased the occupancy rate in the Canary Wharf Group portfolio to 97.3%.
Sir George Iacobescu, Chairman and Chief Executive of Canary Wharf Group plc said: “The arrival of MDU and the National Bank of Abu Dhabi to One Canada Square further illustrates the diversity of tenants at Canary Wharf. With bespoke office space at competitive rents and a strong retail and leisure offering, Canary Wharf remains attractive to a broad range of occupiers”.
Dr Christine Tomkins, MDU’s Chief Executive said: We are pleased about our move to Canary Wharf which follows an extensive review of alternative locations. The quality of the space in One Canada Square and the competitive occupancy costs offer the best solution to our members and staff. We are now looking forward to moving in late 2014 or early 2015.
Notes to editors:
About Canary Wharf Group plc:
Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail and leisure facilities in central London. Over the past 20 years Canary Wharf Group has regenerated derelict wharves into one of the world’s premier business and shopping districts, constructing over 16 m sq ft of office space; more than any other company in London. These buildings are occupied by over 100,000 people.
Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 280 shops, bars, cafes and restaurants including many of Britain’s leading brands.
The Group has also been involved with four projects away from the Canary Wharf Estate. Following the successful completion of Pan Peninsula, Drapers Gardens and the ongoing construction of 20 Fenchurch Street (Walkie Talkie) in the City of London, the Group is also in a joint venture with Qatari Diar for the redevelopment of the Shell Centre on London’s South Bank.
For more information, please contact:
Canary Wharf Group
John Garwood / Ajay Teli
Canary Wharf Group plc
Tel: 020 7418 2326
Elizabeth Adams / Edward Moore
Brunswick Group LLP
T: 020 7404 5959