Canary Wharf Group plc Announces Lettings at Canary Wharf
Canary Wharf Group plc (CWG) today announced a series of lettings with existing tenants at One Canada Square and a new tenant at 40 Bank Street, Canary Wharf totalling approximately 120,000 square feet. The leases were all completed at the end of 2009.
The Financial Services Authority (FSA) has taken leases on two floors in One Canada Square of approximately 55,800 square feet in total at a rent of £35 per square foot (psf) for terms expiring in 2018. One of the leases has a tenant break clause effective at the end of the fifth year. In addition FSA is occupying a single floor for 12 months and has an option on a further floor.
Euler Hermes, a leading financial services company, restructured its lease on approximately 49,000 square feet on level 35 and part of level 36, One Canada Square.
Global Sage, an international recruitment company, has taken 2,584 square feet on part of level 28, One Canada Square.
MetLife Inc, a leading provide of insurance and financial services, has taken 10,871 square feet on part of level 28, One Canada Square.
Novartis, a leading pharmaceutical company, has taken 1,995 square feet on part of level 34, One Canada Square.
Premier FX Investing, a forex trading and training organisation, is taking a new lease of 3,553 square feet on part of level 19, 40 Bank Street.
All of the above transactions have been concluded on a variety of leases for short to medium terms and rents of between £29 psf and £42 psf.
NOTES TO EDITORS
About Canary Wharf Group
CWG is an integrated property development, investment and management group of companies. It is focused on the design, construction, leasing and management of Grade A office space and high-quality retail and leisure facilities on its 97 acre Estate in East London.
Over the past 20 years CWG has regenerated derelict wharves into one of the world’s premier business districts, constructing over 15 million square feet of office and retail space – more than any other company in London.
Canary Wharf is home to many of the world’s leading business organisations, including in the professional services; media, law, energy, financial services and transport sectors. It is also home to over 200 shops, bars, cafes and restaurants, including many of Britain’s leading brands. The working population is approximately 93,000.
The Estate includes 20 acres of landscaped parks and plazas. Canary Wharf hosts over 180 events a year and has one of the UK’s largest collections of public art.
As at 30 June 2009 the Canary Wharf Group investment portfolio was 97.7% let. The weighted average unexpired lease length was 16.9 years.
CWG was named one of the Sunday Times 60 Best Green Companies in the UK in 2009.
Canary Wharf is set for further expansion. In 2008, CWG signed agreements to commence work on the Canary Wharf Crossrail Station and to continue work on a new European Headquarters for J.P. Morgan. KPMG, State Street and Fitch Ratings open new office buildings on the Estate in 2009 and 2010, bringing thousands of new workers to Canary Wharf on a daily basis.