Friday 7 February 2014 – Media Release
Canary Wharf Group signs with EY for 207,000 sq ft of office space at 25 Churchill Place
Canary Wharf Group announces that it has signed a transaction with professional services firm EY who have taken 207,000 square feet of office space at 25 Churchill Place. EY have taken a 25 year lease, at a rent of £48.50 per square foot. EY will occupy levels 14 to 21 in the 21 storey building.
The European Medicines Agency (“EMA”), occupy circa 281,000 square feet of office space on promenade and ground to 10th floors which leaves just levels 11 and 13 to lease.
Sir George Iacobescu, Chairman and Chief Executive Officer of Canary Wharf Group plc said: “We have a long professional association with EY and are very pleased that they have chosen to lease space at 25 Churchill Place. This transaction builds on the strong representation of professional services firms already at Canary Wharf and, with EY sharing the building with the EMA, demonstrates just how attractive Canary Wharf is for firms from all sectors.”
Robin Tye, Chief Operating Officer of EY said “Our expansion into Canary Wharf in 2015 is another investment that supports EY’s ambitious growth plans as we continue to recruit staff in response to a growing demand from our clients for business advice”.
25 Churchill Place, the last building to be built as part of the original masterplan for Canary Wharf, will be one of the most modern technology and energy efficient office buildings on the Canary Wharf Estate. Environmental features will include elevators that store and reuse energy elsewhere in the building, the latest ultra-efficient air-conditioning equipment that recycles the energy from exhaust air and photo voltaic cells to generate energy from the sun’s rays. The building will also have a ‘green’ roof, which enhances biodiversity and energy efficiency. 25 Churchill Place will achieve an ‘excellent’ BREEAM environmental performance rating and an Energy Performance Certificate (EPC) rating of 40 or better.
As part of this transaction, on 1 July 2015 Canary Wharf Group will assume responsibility for EY’s lease at Becket House, 1 Lambeth Palace Road, of 146,000 square feet of office space. The lease runs until September 2026 at a rent of £35 per square foot.
EY were advised by Cushman and Wakefield and Freshfields Bruckhaus Deringer LLP and Canary Wharf Group by CB Richard Ellis, Jones Lang LaSalle, GM Real Estate and Clifford Chance.
For more information, please contact:
Elizabeth Adams / Edward Moore
Brunswick Group LLP
T: 020 7404 5959
Canary Wharf Group plc
Tel: 020 7418 2000
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.