The Shanghai Pudong Development Bank is to open a permanent UK office in the City of London.
The commercial bank, which is headquartered in Shanghai, China, has chosen Stanhope and Mitsui Fudosan’s Angel Court, EC2, for its first overseas office.
The bank has placed one of the 8,500 sq ft “sky floors” under offer in the 24-storey tower, which is due to complete next month. Rents in the tower for the sky floors start at around £67 per sq ft and go up to circa £85 per sq ft for the top levels.
The bank first arrived in London in 2013, opening a representative office and London Executive Office’s 1 Cornhill, EC3.
As of the end of 2015, the bank, which was founded in 1992 and listed on the Shanghai Stock Exchange in 1999, reported total assets of 5,044.4bn Yuan (£600.7bn), a yearly operation income of 146.6bn Yuan, and an after-tax net profit attributable to the shareholders of the parent company of 50.6bn Yuan.
Stanhope and Mitsui have also signed financial data management firm RIMES Technologies to take an 8,500 sq ft floor in the tower.
Service office provider Landmark is under offer to take five floors totalling around 35,000 sq ft.
The 300,000 sq ft office building, which offers 160,000 sq ft of restaurant accommodation, is designed by Fletcher Priest Architects.
GM Real Estate, Cushman & Wakefield and JLL are joint leasing agents on Angel Court; Cushman & Wakefield represented the Shanghai Pudong Development Bank; DeVono advised RIMES Technologies.
All parties declined to comment.
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