JPMorgan purchases £237m office space in Canary Wharf

By newbusiness
Created 17/11/2008 - 10:15
JPMorgan has announced plans to base its European headquarters in  London purchasing office space in Canary Wharf  [1]part of  a new £237m business development.

The American investment bank have bought a lease-hold on the development - to be called Riverside South - for the building which is not expected to be finished until the end of 2012.

The deal for 1.9m square feet site is a boost for canary, which has recently seen the collapse of tenants Lehman Brothers.

"This is good news, if only because banks wouldn't be building anywhere if they feared a cataclysmic medium-term downturn," said Dan Bayley, head of UK office agency Atisreal.

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