Amsterdam and Paris have been chosen as the new locations for the European Medicines Agency and European Banking Authority, EU ministers announced last night.
A competition was launched earlier this year for the relocation of the agencies, which have a combined staff of 1,000, from London after Brexit.
Amsterdam won the battle for the EMA, which is currently based in Canary Wharf, E14, following a fierce competition in which 19 member states bid to host the EMA, which needs to relocate to mainland Europe after Brexit. The final decision came down to a coin toss, after Amsterdam received equal votes with Milan in the third round of voting. Copenhagen came in third place.
The agency is currently based at Canary Wharf Group’s 25-30 Churchill Place, E14, where it has occupied 250,000 sq ft since 2014 on a lease expiring in 2036. The total cost of breaking the lease is estimated to be more than €347m (£307.6m).
Paris competed with seven other countries – Austria, Germany, Belgium, the Czech Republic, Ireland, Luxembourg, and Poland – for the EU’s banking regulator.
The regulator currently occupies 44,700 sq ft at Canary Wharf Investments’ One Canada Square, E14, on a lease expiring in 2026.
Frankfurt and Dublin joined Paris in the second round, before Frankfurt was knocked out, leaving France and Ireland up against each other. The countries drew 13-13 before lots resulted in a win for Paris.
In a statement, the EBA said: “This is an important decision for the authority that guarantees a seamless continuation of its activities by reassuring its current and future staff over the new location and putting an end to a period of uncertainty. The EBA is confident that France will support the authority to ensure a smooth transition.”
The relocation of these two agencies is a direct consequence and the first visible result of the UK’s decision to leave the EU, the European Commission said.
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