- Canary Wharf Group let over 415,000 sq ft in 2022 revealing a successful year for office leasing with further momentum expected in 2023
- Total footfall on the Estate during 2022 reached c. 54m – the highest annual total in Canary Wharf’s history
- Newest lease includes investment bank Saxo Bank, committing to a 10,000 sq ft lease for 7 years at 40 Bank Street
In 2022 Canary Wharf Group (“CWG” or “the Group”) continued to expand the Estate’s diverse amenities, opening 42 new retail and leisure outlets to suit the needs of office customers, residents, and visitors. Footfall for the year reached c. 54m – the highest annual total in Canary Wharf’s history. This excellent offering resulted in CWG signing 20 new office leases across multiple sectors including healthcare, global consulting, and finance.
Five leases are part of the Group’s new managed office space offering, MadeFor. Citigroup became MadeFor’s first customer with 190,000 sq ft of space at 40 Bank Street, as it completes Europe’s largest refurbishment, part of its long-term re-commitment to Canary Wharf.
Five customers recommitted to CWG’s 40 Bank Street while a further four customers; Datatonic, Fisher Investments UK, Brookfield Asset Management and Delta Capita, agreed to increased office space with Canary Wharf Group as their businesses grew.
The Group has announced a new lease with Saxo Bank (“Saxo”), a global leader in online trading and investing, which has renewed its commitment to its London base in Canary Wharf. Saxo has taken a lease of 10,000 sq ft for 7 years with CWG on the 26th floor of 40 Bank Street, a building that has recently undergone extensive modernisation from award-winning architects, Stiff + Trevillion.
CWG has previously announced significant developments to the Estate to accommodate growing sectors. A joint venture with Kadans Science Partner is expected to deliver Europe’s largest health and life sciences laboratory building of c.823,000 sq. ft in 2026. The Kadans Life Science Incubator will locate in 20 Water Street, delivering 38,000 sq ft state-of-the art, flexible and fully serviced CL2 labs and office space.
2022 saw further commitments to Canary Wharf from tenants in the financial sector as Barclays announced the refurbishment of their headquarters while the ERBD relocated their headquarters to the Estate in October.
Data from Transport for London (TfL) showed record numbers of people traveling into Canary Wharf in November and December 2022, consistent with the overall upward trend Canary Wharf saw in Q4 with visitors to the Estate matching or exceeding pre-pandemic levels for midweek travel with evening visitors 50% higher than comparable periods in 2019 and 50% increases in weekend visitors.
Canary Wharf is a residential community with over 3500 people now living on the Wharf and approximately 150,000 people living within 1 mile. The Elizabeth line opened in 2022, and the Jubilee line and DLR provide quicker, easier access between East and West London.
Katie Oliphant, Managing Director, Offices, Canary Wharf Group, said: “We have seen a transformation of Canary Wharf into one of the UK’s most sustainable, mixed-use neighbourhoods offering an extraordinary environment to all those who work, live and visit the Estate. We are delighted with the lettings made in 2022. We are seeing good leasing activity with diverse, growing companies and a good pipeline for 2023.”
Charles White-Thomson, UK CEO at Saxo said: “We are very happy to have reaffirmed our commitment to Canary Wharf for a further 7 years. Not only does this position us in the heart of London’s financial district but fantastic accessibility and an ever-growing list restaurants, bars and services makes this the perfect destination for our employees and to meet with our clients.”
Louis Decuypere, Founder and CEO, Datatonic: “Datatonic really benefited from the flexibility and the professional environment that Level39 offered in the first years of the business. We took around 7 different office configurations scaling up to 100 people, allowing us to be cost effective while enjoying a very premium workplace. When the time came to fix a long-term property lease, staying in Canary Wharf was a no-brainer. Canary Wharf feels more vibrant than ever, blending in residential and commercial development, with a strong vision on the future and focus on sustainability, and very good commute access. Plus, we really enjoy the long-term partnership we built with the teams behind Level39 and Canary Wharf Group.”
Mark Ashton-Rigby, Chief Operating Officer, Barclays: “At Barclays, we are transforming our London headquarters in Canary Wharf. An environmentally sustainable, innovative and exciting place to work that supports colleague wellbeing is essential to attracting and retaining talented people, and Canary Wharf’s investment in the wider environment is part of creating that sought-after destination.”
Odile Renaud-Basso, EBRD President said: “We completed our move to Canary Wharf in October, and we are delighted with our new HQ, one of the most sustainable developments in Europe. More than 2,800 staff are now based here, combining office working with remote. We’re enjoying the experience – getting used to the new facilities around us and experiencing the best view in London from the top floor of our new building.”
The Deputy Mayor for Transport, Seb Dance, said: “I’m delighted by the positive news that record numbers of people have been travelling into Canary Wharf. We’re seen ridership across TfL’s network increase as more people return to the office and travel to make the most of the hospitality, retail and culture on offer in central London. Looking ahead, I know London’s world-class public transport network will continue to play an essential role in our recovery from the pandemic as we work to build a greener and fairer city for everyone.”
 Occupiers including ABSA, Begbies Traynor Group, FreedomPay, Saxo Bank and WallStreetDocs
For further information, please contact:
Canary Wharf Group plc
T: 020 7418 2166