Rating agency Fitch is to establish its new London headquarters at Canary Wharf in a £290m deal.
Fimalac, the French company which owns Fitch, has agreed to buy and move into 30 North Colonnade. It completed the deal with Canary Wharf Group on Friday.
The new building, designed by architects Kohn Pedersen Fox, will comprise around 320,000 sq ft of office space. It is located in the heart of the Canary Wharf estate near the HSBC headquarters. It will be next to accountant’s KPMG’s headquarters which is currently under construction.
Fitch, occupies a number of buildings in the City and has around 700 staff, and will progressively move into 30 North Colonnade when the building is completed at the end of 2010. It will not occupy the whole building. KPMG has an option on space in this building.
Richard Archer, head of leasing at CWG, said: ‘This transaction further recognises and reinforces the importance of Canary Wharf as a key business district in London, and illustrates the increasing attraction of this location to a wide variety of blue chip occupants.’
Marc Ladreit de Lacharrière, chairman of Fimalac, said: ‘Canary Wharf is the ideal location in the UK for the head office of Fimalac and its subsidiary Fitch . Progressive relocation to Canary Wharf will allow all the Fitch Group teams to be more efficiently based in one building in a prime business location appropriate for future development in London.’
CB Richard Ellis and Knight Frank advised Canary Wharf Group. Fimalac were advised by King Sturge.
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