BNY Mellon renews lease on Canary Wharf offices

Leading asset management and securities services firm BNY Mellon has renewed its lease on 152,226 sq ft of office space in Canary Wharf, E14 at One Canada Square.

Owner Canary Wharf Group has agreed a term of eight years from 1 January 2014 at a rent of £42.50 per sq ft for levels 40, 41, 43, 47, 48 and 49 in One Canada Square, Britain’s tallest operational building at 50 storeys and one of the premier business addresses in the UK.

A rent-free period of 18 months will be granted from 1 January 2014. There will be tenant-only break options for levels 40 and 41 at the fifth anniversary of the reversionary term (1st January 2019), subject to a penalty payable by the tenant equating to ten-months rent.

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

BNY Mellon currently occupies thirteen offices in the UK, with three offices in the City of London and three in the Docklands in addition to two offices in Manchester and offices in Leeds, Liverpool, Poole, Swindon and Brentwood.

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Posted by Jules