Canary Wharf confirmed this morning that BP had taken 140,500 sq ft (13,052 sq m) at 20 Canada Square for its Integrated Supply and Trading (IST) division.
The signing is for 12,500 sq ft (1,612 sq m) more than the 128,000 sq ft (11,891 sq m) announced in September 2003.
The space, on floors one, two and three and part of floor four (with basement storage), has been taken for 20 years, with tenant-only breaks at 10 years and 15 years.
If no break is exercised at the end of the 10th year, a one-year, rent-free period will be granted.
To accommodate future growth, IST has an option on the remainder of the fourth floor – 30,800 sq ft (2,861 sq m) – exercisable up until 1 April 2004.
Skidmore Owings & Merrill designed the recently completed 535,000 sq ft (49,701 sq m) 12-floor glass and steel building.
McGraw-Hill, the global information services provider, will also be occupying 266,000 sq ft (24,711 sq m) at the building.
George Iacobescu, chief executive at Canary Wharf, said: “We are extremely pleased to be welcoming BP, one of the largest and most prestigious companies in the world.
“We had an excellent collaboration with BP’s professional management team and are happy to have been able to satisfy the present and future requirements of IST.”
BP’s IST division was advised by DTZ. CB Richard Ellis and Knight Frank advised Canary Wharf Group.
References: EGi News 26/02/04
