Barclays Bank has played down rumours that it is to take between 750,000 sq ft and 1m sq ft at Canary Wharf.
A spokeswoman for the banking giant has confirmed that it is keen to rationalise its office portfolio of more than 12 London buildings, relocating its 5,000 staff under one roof. She said that the bank was in early discussions with a number of landlords including Canary Wharf, as well as other sites including Paddington and several City locations.
The bank’s relocation team has periodically looked at most of the available schemes, but City agents have confirmed that Barclays reactivated its requirement around nine months ago.
Barclays chief executive Matt Barret is known to want to impose a new corporate ethos on the bank through a strategic move. The bank already has a stake at Canary Wharf through its investment banking arm Barclays Capital in The North Colonnade and The South Colonnade.
Docklands agents claim that Canary is keen to sign another major European bank to counteract its image of being dominated by US occupiers.
The move would be a heavy blow for the City, where Barclays has been a stalwart for more than 300 years, with its headquarters located on Lombard Street.
Agents have said that if Barclays did not want to be overshadowed by existing banks at the Wharf, such as HSBC and Citigroup, Canary Riverside would be the most prestigious location. The Sunday Telegraph suggested Shed 35 of Canary Wharf South was a possibility.
Weatherall Green & Smith confirmed that it was providing strategic real estate advice to Barclays but declined to comment. Canary also remained tightlipped.
EGi News 31/08/01
