INDUSTRY NEWS

Spanish bank expands with new Canary Wharf office

Spanish bank, Banco Bilbao Vizcaya Argentaria S.A., has agreed a lease for new Canary Wharf office space – as part of an ongoing expansion.

Located at One Canada Square, the company will occupy level 44 – which is composed of around 29,000 sq ft – having agreed terms for a 15-year lease.

A break clause, featured in the lease agreement, will allow Banco Bilbao Vizcaya Argentaria to end the lease on 7,500 sq ft of level 44 after five years and the whole floor after ten years.

The new office will be used as a headquarters for the firm’s London Corporate & Investment Banking division; around 150 employees are expected  to make the move to the new building in Spring of next year.

Banco Bilbao Vizcaya Argentaria’s decision to locate in Canary Wharf coincides with JP Morgan and Shell’s moves into the area – which is expected to increase Canary Wharf’s population to around 105,000.

Meanwhile, Metlife have also agreed a lease for One Canada Square’s level 50 office space.

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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