Canary Wharf Group plc (‘Canary Wharf’) today announces that BP’s Integrated Supply and Trading (IST) division has taken 43,700 sq ft of additional space in 20 Canada Square, resulting in a total space take of approximately 215,000 sq ft.

140,500 sq ft of space was acquired in 20 Canada Square in February 2004 and since then it took an option on level 4 and part of level 5 totalling 171,300 sq ft. IST has now taken up a 2nd option on the remainder of level 5 (as well as additional basement storage), occupying 215,000 sq ft in total.

The lease is held for a 20-year term with tenant only breaks at 10 years and 15 years. If no break is exercised at the end of the 10th year, a one-year rent-free period will be granted.

To accommodate future growth, IST has an option on the last available floor, level 6 (47,032 sq ft), exercisable up until 1st November 2004.

The recently completed 535,000 sq ft 12-floor glass and steel building was designed by leading architects Skidmore Owings & Merrill. The building offers large floor plates of typically 40–45,000 sq ft. Located in a prime position at Canary Wharf on the south east corner of Canada Square Park, it provides underground links to the Jubilee Line and Docklands Light Railway stations as well as direct access to the retail malls, which extends to over 662,000 sq ft of shops, bars and restaurants.

The building is bordered to the south by the five acre Jubilee Park and the new Clifford Chance, Northern Trust and Lehman Brothers buildings. To the north it shares its Canada Square location with the world headquarters of HSBC and the European headquarters of Citigroup, Credit Suisse First Boston, Bank of America and in the future, Barclays Bank plc (expected to move in during 2005). The McGraw-Hill Companies, the global information services provider, now occupies 266,000 sq ft at 20 Canada Square.

BP’s IST division was advised by DTZ, Canary Wharf Group was advised by CB Richard Ellis and Knight Frank.

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