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Citigroup Starts Canary Wharf Sub-Lettings

LONDON-Citigroup has started sub-letting surplus space in its million-sq ft tower at Canary Wharf. Law firm Allen & Overy has taken the 29,000-sf 33rd floor of the tower building at 25 Canada Square, and in all the bank plans to sub-lease over 300,000 sf.

By Graham Parker | Updated on April 18, 2002

LONDON-Citigroup has agreed the first sub-lettings in its recently completed headquarters building at Canary Wharf. The US bank originally intended to occupy the entire million-sf tower itself, but the economic slowdown has led it to reassess its space requirements.

Law firm Allen & Overy has taken the 29,000-sf 33rd floor of the tower building at 25 Canada Square on a short term lease. The space had already been fitted out by Citigroup. Allen & Overy Managing Partner said: ‘This is our first presence at Canary Wharf and we were attracted both by the quality of the space and accommodation and by the flexible and competitive terms on offer. After 18 months the firm will have a larger permanent home at Canary Wharf, which will have space for at least 250 people, with room for further expansion.’

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