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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.
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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.
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