Royal Bank of Canada picks Brookfield’s 100 Bishopsgate for its new UK headquarters

Kasmira Jefford
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Work on 100 Bishopsgate is already underway and is expected to complete in 2018 (Source: Brookfield )

Royal Bank of Canada (RBC) has signed a pre-let deal with Brookfield Property Partners to move its UK headquarters to the developer’s 100 Bishopsgate tower.

The bank, which has been on the hunt for a new head office for a year, will take the first seven floors of the 37-storey tower in the City, equal to 250,000 square feet, Brookfield announced yesterday.

It currently lets two City buildings on Queenhithe and Swan Lane spanning around 160,000 sq ft, with leases expiring in 2020.

Work on the 962,000 sq ft building kicked-off in May and is expected to be completed in 2018.

The deal means Brookfield has 1.25m sq ft in the City this year including its mammoth 430,000 sq ft pre-let with Amazon at Principal Place and a 310,000 sq ft letting to Schroders at 1 London Wall Place.

RBC Capital Markets European chief executive, David Thomas, said: “Building on our strong history in London, which spans more than 100 years, the new office space in 100 Bishopsgate is a strong reflection of our commitment to the UK, where we have been steadily building our presence over the last decade.”

“The move will bring together our London-based employees from our Capital Markets, Investor & Treasury Services, Wealth Management and Global Asset Management businesses.”

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