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Revolut takes 40% more space at Canary Wharf as expansion spree continues

Published 13/06/2024, 10:03
© Reuters Revolut takes 40% more space at Canary Wharf as expansion spree continues
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Proactive Investors - Revolut has underlined its ambitions by taking the top four floors of a recently refurbished tower in London’s financial district of Canary Wharf.

The challenger bank has signed a 10-year lease at 30 South Colonnade, which was recently renamed YY London.

Two Revolut logos will blaze out on either side of the building with bank staff expected to be in place by May next year.

Revolut was valued recently at £24 billion and has been on a hiring spree recently with 1,500 new staff slated to be added by the end of this year.

The new office will increase Revolut’s office space in London by more than 40% to 113,000 sq ft.

The bank, which has always been based at Canary Wharf, said it wanted the extra space for product launches and team meetings.

Nik Storonsky, the bank’schief executive, said the new headquarters “will serve as Revolut’s home as we expand across the globe”.

Thomson Reuters previously occupied the block at 30 South Colonnade and as well as highlighting Revolut’s expansion, the deal is a shot in the arm for Canary Wharf itself.

Several other high-profile tenants have handed in their notice recently, notably law firm Clifford Chance and HSBC (LON:HSBA), as working from home has grown in popularity.

Canary Wharf Group is owned by the Qatar Investment Authority and US group Brookfield.

Read more on Proactive Investors UK

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