Fimalac buys 320,000 ft² Canary Wharf HQ for £290 million
02 July 2007
The new office building, located at 30 North Colonnade in E14, will be completed in 2009
Fimalac, parent company of Fitch Ratings, today announce that they have purchased the virtual freehold interest in 30 North Colonnade, E14 from Canary Wharf PLC. The new building, designed by architects Kohn Pedersen Fox, will comprise around 320,000 ft² of office space when it is completed in 2009. It is located in the heart of the Canary Wharf between the HQ of HSBC and accountant’s KPMG.
Fitch Ratings occupy 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. Fitch will initially occupy 132,000 ft² with the remainder of the building available for subletting.
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.”
Fitch Ratings is the world’s third largest rating agency, with offices in more than 25 countries.
King Sturge acted for Fimalac in the purchase, and retained as project monitoring surveyors whilst Canary Wharf complete the construction. King Sturge is also retained as project managers for Fitch's fitting out and leasing agents for the surplus accommodation.
