BP is to take new office space in London, shifting down the road in Canary Wharf to Blackstone’s revamp of 25 North Colonnade.
The oil and gas giant is understood to have agreed to prelet around 200,000 sq ft at the property located next door to Canary Wharf’s Crossrail station.
BP’s lease over six floors totalling 243,973 sq ft at 20 Canada Square, E14, which has been owned by Cheung Kei Group since 2017, is due to expire in 2024, according to Radius Data Exchange.
Its new home, to be known as Cargo, will feature 20,000 sq ft of terraces and roof garden and a market hall concept will occupy the lower levels.
The prelet means that the building is nearly 60% leased prior to the revamp, designed by Gensler, completing in Q4 this year.
The former home of the Financial Conduct Authority, the building was bought by Blackstone in 2014 for £165m.
It is one of five office-led commercial assets that Blackstone currently owns.
The news follows BP’s decision to aim to be a net zero company by 2050 last month.
Blackstone and Knight Frank declined to comment. BP and Cheung Kei Group have been contacted for comment.
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