😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

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

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


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.