Japanese bank Nomura is to rent the 525,000 sq ft Watermark Place in London. The deal is expected to be completed at the end of July, but Nomura will stay where it is in Canary Wharf until 2011.
The bank acquired its current office space from the now-defunct US investment bank Lehman Brothers, in which Nomura took a stake in 2008.
Nomura’s growing business necessitates a move; at present, it occupies around 350,000 square feet at 25 Bank Street – previously Lehman’s London HQ.
Watermark Place is a joint venture between Oxford Properties and UBS Global Asset Management, and has a value of £160 million.
The development includes impressive environmental credentials, with photovoltaic installations capable of generating up to 50kW – enough to power one of the developments three buildings – rainwater collection tanks and a green roof. The project was begun in 2007 and has space for 5,000 staff.