Nomura to move to Watermark Place

09:43 | 06.07.09

The Japanese bank, advised by Drivers Jonas, agreed terms on Friday to occupy the 525,000 sq ft building which is being developed by UBS Global Asset Management and Oxford Properties, which is the property arm of Canada’s Ontario Municipal Employees Retirement System pension fund.

The building is located near Cannon Bridge on the Thames’ north riverbank. It completes on 29 July and can accommodate around 5,000 staff.

Nomura’s decision will provide a significant boost to the City market and dwarfs the previous largest deal this year when another Japanese bank, Bank of Tokyo, agreed to take more than 220,000 sq ft at British Land’s Ropemaker scheme.

The decision by Nomura, which has been growing its business since it bought part of the Lehman banking business last year, will be a blow to Canary Wharf which was hoping to convince the bank to keep some of the Lehman office space.

Knight Frank and CB Richard Ellis are letting agents at Watermark Place. CORE is development manager.

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