Global law firm Clifford Chance is reportedly set to relocate its entire corporate team to office space in Canary Wharf, introducing a trail of open-plan working in the process.
According to one report, the consolidation of their office space could result in a saving of around £1m each year on business rates alone – while the soon to be vacated offices still leased by Clifford Chance will be made available to a long-term tenant.
The relocation of 8,000 employees from one of the world’s largest financial institutions to office space in Canary Wharf will create Europe’s biggest collection of bankers in the next few months, moving the capital of the UK and Europe’s financial centre away from the City of London.
Construction has begun on new office space in Canary Wharf.Canary Wharf Group is overseeing construction of the 20 storey building at 25 Churchill Place.
Canary Wharf Group has started construction on a new 20 storey office space development in Canary Wharf.
Work has already begun on the 50,000 sq ft development at 25 Churchill Place which, once completed, will become the new headquarters of the European Medicines Agency in 2015. Two cranes have already been erected at the site, with the slip formed concrete core expected to make its debut on the Docklands skyline within the next couple of months. (more…)
JP Morgan move into Canary Wharf offices.London office space taken up by investment company JP Morgan.
Investment company JP Morgan has moved its European headquarters to the British capital.
JP Morgan have leased space in 25 Bank Street, Canary Wharf. The company are planning to move into the property officially in 2012.
The office was previously occupied by the bank Lehman Brothers and spans 1 million square feet of office space.
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Relocating to London office space is a big step for any business. From increased rental rates to congestion charges and transportation worries, a business should only commit to London office space if they believe it is 100% the right decision for their business.
If you’ve gone through the whole consultation process and believe that a move to a London office is your next step then you’ll need to work out which London area is right for your business. Here at Londonoffices.com we’ve narrowed down the 3 key areas in London to help ensure you pick the right area for your needs. (more…)
The ‘7 More London’ building looks like all other London offices, but it has just been announced to be the most eco-friendly office space in London.
The building was designed with the environment in mind and was constructed in a collaborative act by PwC, Fosters, developer More London, an architect and an engineer from BDP and a several other consultants.
As a result Breeam sustainability assessors recently made the assessment that it was the most environmental-friendly building in the city.
By securing a £43 million investment from Brookefield Properties, Great Portland Estates are now in a comfortable position to go ahead with the construction of new London-based offices.
Brookfield Properties, which already own 22% of Canary Wharf, now have a 50% stake in the development at Bishopsgate.
Analysts, at JP Morgan Financial Services, have said that the development could cost up to £560 million and that, “The project was too big for Great Portland to comfortably do alone, in our view.”
As a result, without this financial backing the development may have been put on hold.
London offices have recently seen the largest ever rise in rental values as the property market finally starts to recover from the recession.
The office rental market was seriously affected by the recession because businesses became reluctant to spend money on renting new office space.
But now, after two and a half years of decline, there is finally a price increase in the rent of commercial properties.