BoNY-M and Songbird in tune at Canary Wharf
Canary Wharf owner Songbird Estates said US banking behemoth Bank of New York Mellon (BoNY-M) has renewed its lease at One Canada Square on the wind-blown financial district in the East End of London.
Canary Wharf owner Songbird Estates said US banking behemoth Bank of New York Mellon (BoNY-M) has renewed its lease at One Canada Square on the wind-blown financial district in the East End of London.
BoNY-M, which is leasing 152,226 square feet of office space at One Canada Square, has renewed for a term of eight years, commencing at the start of 2014, at a rent of £42.50 per square foot. A rent-free period of 18 months will be granted from January 1st, 2014.
The bank is taking space on floors 40, 41, 43, 47, 48 and 49 of the 50-storey building. There will be tenant-only break options for levels 40 and 41 at the fifth anniversary of the reversionary term (January 1st, 2019), subject to a penalty payable by the tenant equating to 10 months' rent.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
jh
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Zoopla: House prices slows to 1.4% in May as rate of sales at four year high
The average UK property now costs £268,400, Zoopla says, but some areas of the country are experiencing much higher price growth than others.
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator