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Moody’s newest agency to give up Canary Wharf for smaller workplaces in London

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Credit score scores company Moody’s is relocating its London headquarters from workplaces in Canary Wharf to a brand new location within the Metropolis of London. This transfer provides to the pattern of monetary corporations opting to go away the Docklands district. The corporate will shift to workplaces at 10 Gresham Avenue in 2026, coinciding with the expiration of its lease at One Canada Sq., the long-lasting pyramid-topped skyscraper within the coronary heart of the east London property. A spokesperson for Moody’s confirmed the choice of the brand new location, emphasizing that the transfer is topic to closing.

Moody’s has actively sought a brand new London headquarters, eyeing house that’s more likely to be practically a 3rd smaller than its present base, as reported by Bloomberg Information final 12 months.

Notably, a number of key tenants, together with HSBC Holdings Plc, have introduced plans to go away Canary Wharf, prompting discussions concerning the district’s future. The homeowners of the district, Qatar Funding Authority and Brookfield Corp., have been steadily reshaping the world by introducing new properties, shops, eating places, and diversifying the tenant base.

Our report on the altering face of Canary Wharf and related enterprise districts within the wake of latest market situations could be learn in the October 2023 problem of IN Journal.

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