PwC joins the Canary Wharf crowd in major property shake-up

Big Four giant PwC has picked Canary Wharf for its new UK office, and is set to swallow up 350,000 sq ft in the area in the latest boost to the docklands financial hub.

The firm has chosen One Eden in Canary Wharf to be its new office address, a building formerly known as 33 Canada Square, which is due to be redeveloped for PwC’s arrival.

The building currently serves as banking giant Citigroup‘s European, Middle East, and Africa headquarters, and was used to accommodate extra staff during its recent £1bn overhaul of the neighbouring 25 Canada Square building.

The consultancy and beancounting giant said the decision “follows an extensive review of potential sites” across the capital, as it awaits “an expected major refurbishment” of its current headquarters at Embankment Place until 2030, where 5,500 staff are currently located.

PwC’s City office lease at More London on the South Bank of the Thames expires in 2035, which houses 7,000 employees.

Marco Amitrano, senior partner of PwC UK said the group is “excited by the prospect of expanding our London property footprint to include One Eden at Canary Wharf in 2030.”

“The capital’s enduring status as a fulcrum of professional and financial services means it will always be absolutely core to our business,” Amitrano said.

Amitrano added the new Canary Wharf office “will provide a fantastic environment for our people and clients, broadening our London presence and accessibility.”

Canary Wharf holds a status as one of the world’s leading international financial and professional centres.

JP Morgan has plans to build a new multi-billion pound new tower in Canary Wharf, marking its largest presence outside of the US and the highest tower in the area, having been given the green light in April.

Barclays has also splashed out on a £750m deal for a 999 year lease on its tower which is being hailed as a “strong endorsement” of the financial district and the capital.