Thomson Reuters to move to new London home

It is leasing more than 300,000 square feet of a 15-storey waterfront building at 5 Canada Square (photo), close to its existing offices at 30 South Colonnade which is adjacent to the iconically named Reuters Plaza.

The new building is located between North Colonnade and the North Dock waterfront and features a huge multi-storey atrium. It is in front of the entrance to the new Elizabeth line train station and next to the offices of the Financial Conduct Authority.

The building is owned by Kuwaiti sovereign wealth fund St Martin’s and is let to Credit Suisse until 2027. It was previously sublet to Bank of America Merrill Lynch, which will end its presence in Canary Wharf once it vacates the building.

The new lease is the largest office leasing deal in the UK this year.

Reports said Thomson Reuters would decamp all of its staff from 30 South Colonnade, on which it has a lease that runs until 2020. The move is due to be completed in 2019. The building includes the London offices of Reuters.

The existing building is known for its news ticker and media board in front of the Jubilee Line tube station entrance at Canary Wharf.

In addition to 30 South Colonnade, the firm occupies space at 33 Aldgate High Street, 1 Mark Lane and at 58-64 City Road.

The only other London presence the firm will maintain in addition to 5 Canada Square is its data centre at Blackwall Yard, east of Canary Wharf.

Thomson Reuters spokesman David Crundwell said: “Thomson Reuters routinely reviews our property portfolio to ensure that we run our business operations with maximum efficiency. Our highest priority is always ensuring that we offer the best service possible for our customers.  

“Consolidating most of our London operations into one location will reduce complexity, increase collaboration between colleagues, and enable us to better serve our customers. 5 Canada Square is a prime location where we can accommodate the vast majority of our London workforce, remaining close to our customers while ensuring minimal disruption to our employees.”

He would not say when staff would begin transferring to the new offices. ■