INDUSTRY NEWS

BNY Mellon agrees lease renewal for Canary Wharf offices

Asset management firm, BNY Mellon, has announced that it has agreed a renewal on the lease for Canary Wharf office space.

Located at One Canada Square, the office holds the honour of being the tallest operational building in Britain – measuring 50 storeys.

BNY Mellon, who also specialise in securities services, have agreed an eight year lease – beginning on January 1, 2014 – with the owner of the property, Canary Wharf Group, for levels 40, 41, 43, 47, 48 and 49.

The Canary Wharf Group will receive £42.50 per sq ft; while BNY Mellon will be granted an 18 month rent-free period when the new lease begins on January 1, 2014.

Commenting on the agreement, Richard Archer, head of leasing at the Canary Wharf Group, said: “BNY Mellon has been a highly valued tenant of Canary Wharf for over 13 years and we are delighted and it has agreed to extend its occupation at Canary Wharf. This is another vote of confidence in both Canary Wharf and London.”

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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