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JPMorgan talks about renting about a third of the former Suisse loan in Canary Wharf because the US bank is trying to bring all its employees back to full -time work.
The UBS inherited the rent on one Cabot Square, owned by the Qatar investment office (QIA) when it saved Credit Suisse in the state of sponsored takeover in 2023.
Jpmorgan It negotiates a sublease of 150,000 square feet of space in a 21-storey building, which was partially reconstructed in the years before the extinction of Credit Suisse according to people who are familiar with this matter.
Wall Street Behemoth requirements that have noticed Record annual profits Last year it could spread to half the building, one of the people added.
One Cabot Square was one of the first buildings completed in Canary Wharf, which was strongly supported by the first chairman of Boston Credit Suisse at that time Michael von Clemm. The creditor was among the original tenants of the financial district Dockland. The building of 540,000 square feet is rented by 2034.
Canary Wharf They face an increase in empty buildings as a result of the pandemic, because some great tenants – including HSBC and Clifford Chance – return to London and others, such as Barclays and Morgan Stanley, give up excess blocks.
Canary Wharf GroupOwned QIA and Brookfield, invested in adding more green space, restaurants and entertainment attractions to increase their feet and improve the environment for tenants. Revolut recently raised a new sign into the former Reuters building after renting a new, much larger space of the headquarters.
Some companies now see the need for more office space. HSBC is considering another space behind the building he rented near St Paul's, which is just over half the size of his tower in Canary Wharf.
Jpmorgan's lease interviews, first reported by Bloomberg News, precede its decision to demand that all employees return to the office five days a week of March. But about 1mn SQ FT Tower in Canary Wharf, which it owns, is excessive capacity – with pressure increases when it ends with a hybrid function.
The space of overflowing on one Cabot Square could also help JPMorgan House employees, who may have to move from the tower to adapt to the reconstruction.
UBS and JPMORGAN refused to express themselves.
