5 Canada Square
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5 Canada Square is a 15-floor office building in the Canary Wharf financial district development in London, England.
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[edit] Overview
5 Canada Square was completed in 2003 and is 88 metres tall with a floorspace of 46,450 square metres. The steel- framed building has an aluminum curtain wall and it features a large atrium on its south side.[1]
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.. [2] Credit Suisse also occupies part of the building.[3]
[edit] 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.[4][5] 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.[3]
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.[6] In 2011, Bank of America chose to renew its lease at 5 Canada Square instead of move to another London location. [2]
[edit] References
- ^ .Canary Wharf Group website,accessed June 10 2011, http://www.canarywharf.com/workwithus/Construction/Projects/5-Canada-Square/
- ^ a b Bloomberg News, Bank of America Said to Keep Treasury Business at Canary Wharf, accessed June 18 2011, http://www.bloomberg.com/news/2011-02-04/bank-of-america-said-to-keep-treasury-business-in-canary-wharf.html
- ^ a b The Independent, Credit Suisse Rents out Surplus Docklands Space, accessed June 10 2011, http://www.independent.co.uk/news/business/news/credit-suisse-rents-out-surplus-docklands-space-662681.html
- ^ BBC News, Canary Shares Soar on Bid Hopes, 5 Dec 2003, accessed June 10 2011, http://news.bbc.co.uk/2/hi/business/3293513.stm
- ^ The Sunday Herald, RBS Moves In on Canary Wharf, Dec 7 2003, http://webcache.googleusercontent.com/search?q=cache:lwqeDv8WYNUJ:findarticles.com/p/articles/mi_qn4156/is_20031207/ai_n12586728/+5+canada+square&cd=23&hl=en&ct=clnk&gl=uk&source=www.google.co.uk
- ^ Property Week, Evans Randall £452m Canary Win, accessed June 10 2011, http://www.propertyweek.com/news/evans-randall%E2%80%99s-%C2%A3452m-canary-win/3092213.article
[edit] External links
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Coordinates: 51°30′20″N 0°01′07″W / 51.50556°N 0.01861°W
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