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The Royal Bank of Canada, the country’s largest financial institution, may have come to the end of its search for a new City of London head office, entering into negotiations for space within 100 Bishopsgate tower.
The bank, based in Toronto, Canada has been looking for premises for around a year, and it is understood that it is in the final stages of negotiations with Brookfield, the developer of 100 Bishopsgate, which bought Great Portland Estates’ remaining 12.5% share last November, giving the developer complete control of the building. The RBC deal would make it the anchor tenant of the building.
The lease would comprise five lower floors in the 37-storey building, one of London’s highest skyscrapers at a planned 613 feet. The floorplates have 44,000 square feet each, of a total 900,000 square feet available in the building. The 32 upper floors of the building will have smaller dimensions, of between 19,000 square feet and 25,000 square feet.
The Bishopsgate building is currently under construction with an anticipated completion date in late 2018. It will comprise retail and restaurant space as well as office space, and has been designed to reach the highest environmentally sustainable ratings by architects Allies and Morrison, and Arney Fender Katsalidis.
RBC has had an office in London since 1910 and currently employs 80,000 employees globally, with a client base of 18 million.
The Royal Bank of Canada’s current two offices are leased until 2020 and comprise 160,000 square feet of space, divided between Riverbank House near Monument and Thames Court.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.