Crossrail takes up Canary Wharf offices - commercial mortgages

06 June 2008

In news which may interest those seeking commercial mortgages, Transport for London has taken up office space at Canary Wharf as the new head office for Crossrail.

The firm will occupy 116,074 sq ft on floors 27 to 30 of the 42-storey 25 Canada Square skyscraper in London''s docklands area, Property Week reports.

It has signed a ten-year lease at £46.50 per sq ft, from which it will initially manage the preparation and construction of the Crossrail link, which is set to begin carrying passengers in 2017.

Citigroup, the company which owns the building, now has only 60,000 sq ft of office space remaining in the building, suggesting that office space demand remains strong.

Completed in 2002, the skyscraper is 199.5 metres (654 ft) high and is the joint second highest building in London alongside the HSBC World Headquarters, surpassed only by One Canada Square, according to Skyscraper News.