5 Canada Square

5 Canada Square
Map
General information
StatusCompleted
TypeCommercial offices
Architectural stylePostmodern
LocationCanary Wharf
London, E14
United Kingdom
Coordinates51°30′20″N 0°01′07″W / 51.505556°N 0.018611°W / 51.505556; -0.018611
Construction started1999
Completed2003
Height
Roof87.70 m (287.7 ft)
Technical details
Floor count16
Floor area46,450 m2 (500,000 sq ft)
Design and construction
Architect(s)Skidmore Owings & Merrill
References
[1][2][3]

5 Canada Square is a 15-storey, 87.7 m (288 ft) office building in the Canary Wharf financial district development of London, England.

Overview

5 Canada Square was completed in 2003. The steel-framed building has an aluminum curtain wall and it features a large atrium on its south side with 46,450 m2 (500,000 sq ft) of floorspace.[4]

The principal tenant at 5 Canada Square is the European arm and HQ of Bank of America Securities. The building is used for the bank’s global cash-management business for clients.[5] Credit Suisse also occupies part of the building.[6]

History

In 2003, Royal Bank of Scotland (or RBS) bought 5 Canada Square along with 25 Canada Square, another Canary Wharf building, for a total of £1.1 billion from Canary Wharf, a major property firm that developed the facility.[7] 5 Canada Square was originally leased by Credit Suisse First Boston but after a banking downturn and not needing the space, Credit Suisse let the space to Bank of America.[6]

In July 2007, the building was sold by RBS to Evans Randall, a banking firm, for £452 million, making it the firm’s largest UK investment to date.[8] In 2011, Bank of America chose to renew its lease at 5 Canada Square instead of move to another London location.[5] The building was subsequently sold to St Martins Property Group in January 2013.[9]

From late 2016, Thomson Reuters is due to sublease 350,000 sq ft from Credit Suisse until 2020, consolidating all of its London operations under one roof for the first time.[10]

References

  1. ^ "Emporis building ID 100083". Emporis. Archived from the original on 22 April 2016.
  2. ^ "5 Canada Square". SkyscraperPage.
  3. ^ 5 Canada Square at Structurae
  4. ^ .Canary Wharf Group website,accessed 10 June 2011, "Canada Square". Archived from the original on 22 July 2011. Retrieved 10 June 2011.
  5. ^ a b Tom Bill (4 February 2011). "Bank of America Said to Keep Treasury Business at Canary Wharf". Bloomberg News. Retrieved 2 March 2013.
  6. ^ a b Shah, Saeed (10 January 2002). "Credit Suisse Rents out Surplus Docklands Space". The Independent.
  7. ^ "Canary Shares Soar on Bid Hopes". BBC News. 5 December 2003. Retrieved 2 March 2013.
  8. ^ "Property Week, Evans Randall £452m Canary Win". Property Week. 27 July 2007. Retrieved 2 March 2013.
  9. ^ "St Martins buys 5 Canada Square from Evans Randall for close to £385m". CoStar UK. 29 January 2013. Retrieved 21 November 2013.
  10. ^ Buckley, James (17 March 2016). "Thomson Reuters signs 350,000 sq ft deal to bring all London staff under one roof". CoStar. Retrieved 6 June 2016.

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