5 Canada Square

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

5 Canada Square
General information
StatusComplete
TypeCommercial offices
Architectural stylePostmodern
LocationCanary Wharf
London, E14
United Kingdom
Coordinates51.505556°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
ArchitectSkidmore Owings & Merrill
References
[1][2][3]

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. 5 Canada Square at Emporis
  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. Tom Bill (4 February 2011). "Bank of America Said to Keep Treasury Business at Canary Wharf". Bloomberg News. Retrieved 2 March 2013.
  6. "Credit Suisse Rents out Surplus Docklands Space". The Independent. Retrieved 2 March 2013.
  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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