5 Canada Square is a 15-

storey A storey (British English) or story (American English) is any level part of a building with a floor that could be used by people (for living, work, storage, recreation, etc.). Plurals for the word are ''storeys'' (UK) and ''stories'' (US). T ...

, office building in the

Canary Wharf Canary Wharf is an area of London, England, located near the Isle of Dogs in the London Borough of Tower Hamlets. Canary Wharf is defined by the Greater London Authority as being part of London's central business district, alongside Central Lo ...

financial district development of

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

Overview

5 Canada Square was completed in 2003. The steel-framed building has an aluminum curtain wall and it features a large atrium on its south side with of floorspace. The principal tenant at 5 Canada Square is the European arm and HQ of

Bank of America Securities A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

. The building is used for the bank’s global cash-management business for clients.

Credit Suisse Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...

also occupies part of the building.

History

In 2003,

Royal Bank of Scotland The Royal Bank of Scotland plc (RBS; gd, Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster Bank ...

(or RBS) bought 5 Canada Square along with

25 Canada Square 5 (five) is a number, numeral (linguistics), numeral and numerical digit, digit. It is the natural number, and cardinal number, following 4 and preceding 6, and is a prime number. It has attained significance throughout history in part because typ ...

, another Canary Wharf building, for a total of £1.1 billion from Canary Wharf, a major property firm that developed the facility. 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 The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...

. 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. In 2011, Bank of America chose to renew its lease at 5 Canada Square instead of move to another London location. The building was subsequently sold to St Martins Property Group in January 2013. From late 2016,

Thomson Reuters Thomson Reuters Corporation ( ) is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre. Thomson Reuters was created by the Thomson Corpora ...

is due to sublease 350,000 sq ft from Credit Suisse until 2020, consolidating all of its London operations under one roof for the first time.

References

External links

* {{Canary Wharf Skyscraper office buildings in London Buildings and structures in the London Borough of Tower Hamlets Canary Wharf buildings Skidmore, Owings & Merrill buildings Office buildings completed in 2003