JPMORGAN IN TALKS ABOUT THE LEASE Credit Suisse’s Canary Wharf building
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In an interview with the lease of about a third of the former seat in the UK, Credit Suisse at Canary Wharf, while the US bank is pushing all his staff to work with full hours in the office.
UBS inherited the lease in one Cabot Square, owned by Qatar’s Investment Administration (QIA), when he saved Credit Suisse in taking over the sponsorship state in 2023. Switzerland Bank consolidates its staff at its existing Broadgate Office in the City of London.
Jpmorgan It is negotiated about submitting a space of 150,000 square meters in a 21 -floor building, which was partially renovated in the years before the death of Credit Suisse, according to people who are familiar with this issue.
Wall Street Behemoth requirements, who cut Annual profit recorded Last year, it could spread to as many as half a building, one of the people added.
One Cabot Square was one of the first buildings completed in Canary Wharf, which was strongly supported by Credit Suisse First Boston Chair, Michael von Clemm. The lender was among the original Dockland financial residents. The building of 540,000 square meters was rented by 2034.
Canary It faces an increase in empty buildings after pandemic, because some big tenants – including HSBC and Clifford Chance – are returning to the city of London, and others like Barclaya and Morgan Stanley give up the blocks of excess.
The Canary Wharf GroupOwned by Qia -ei Brookfield, he invested in adding more green space, restaurants and entertaining attractions to enhance and improve the environment for tenants. Revolution recently erected a new sign on the former Reuters building after lease a new, much larger seat for the headquarters.
Some companies now see the need for more office space. HSBC considers the additional space outside the building he rented near St. Paul, which is just over half the size of his tower at Canary Wharf.
JPMORGAN -The lease conversations, which first reported Bloomberg News, preceded its decision to be required to return all the staff to the office five days a week from March. But the bank is approximately 1 Mn SQ FT Tower in the Canary dock, which he owns, is too large capacity – with pressure set to increase because he ends in hybrid work.
The dressing area in one Cabot Square could also help the JPMORGAN House staff, which may need to move out of the tower to adjust the renovation.
UBS and JPMORGAN refused to comment.