Oaktree Capital Management and Quadrant have let circa 150,000 sq ft of office space across five floors of the YY London in Canary Wharf to Deutsche Bank.
The bank has signed a 15-year lease on the space at the newly refurbished 415,000 sq ft office building. Deutsche Bank will house its infrastructure functions, including technology and operations, at YY London, ahead of the expiry of its current lease at 10 Upper Bank Street in July 2028.
This deal follows the recent signing of a separate agreement with an undisclosed international business that has leased the eighth floor of YY London. Following completion of the deals, YY London is now 85% let or under offer.
Vathany Vijayaratna, Deutsche Bank’s CEO for the UK and Ireland, said: “This move underlines our commitment to London. YY London’s sustainability performance, employee experience and ability to support modern ways of working made it the clear choice as we plan for the years ahead.”
Stuart Keith, managing director of Oaktree’s real estate opportunities strategy, added: “Oaktree, alongside our partner Quadrant Estates are delighted to welcome Deutsche Bank to YY London. This letting is a testament to what we set out to create at 30 South Colonnade: a distinctive, net zero in operation building with a waterfront setting and amenities designed around how modern office occupiers want to work. Deutsche Bank’s commitment to YY London reflects both the quality of the building and the enduring appeal of Canary Wharf as a global business destination.”
Jeremy Lacey, development director at Quadrant, said: “YY London is a shining example of high quality, sustainable, connected workspace that supports the way major modern businesses work. Deutsche Bank wanted a workplace that reflected its commitment to sustainability, employee wellbeing and attracting the very best talent, and we are pleased to welcome them to the building. This deal is also yet another recent example of Canary Wharf’s ability to attract and retain innovative and internationally recognised businesses.”
