Visa is in advanced negotiations to relocate its European headquarters to One Canada Square in Canary Wharf, occupying around 170,000 sq ft. This potential move comes as the lease at its current Paddington location expires in 2028. The relocation follows Moody's exit from Canary Wharf, as major firms are moving their operations elsewhere. The vacancy rates in the area are notably high at nearly 18%. Despite these challenges, key financial firms remain committed to Canary Wharf, highlighting the ongoing investment in amenities and a focus on diversifying tenant types.
Visa is considering moving its European headquarters to Canary Wharf, demonstrating confidence in London's business district amid tenant departures. Occupying approximately 170,000 sq ft at One Canada Square, this would mark a significant commitment to the area.
Visa's potential relocation comes as major firms like Deutsche Bank and HSBC reevaluate their presence in Docklands. Despite competition, the move would enhance Canary Wharf's profile as it seeks to diversify its tenant base.
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