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BP Confirms Canary Wharf Deal

LONDON-Canary Wharf has confirmed a lease agreement with BP's Integrated Supply and Trading division at 20 Canada Square. BP has increased its requirement from 128,000 to 140,500 sf.

By Graham Parker | Updated on February 27, 2004

LONDON-BP’s Integrated Supply and Trading division is to lease 140,500 sf at Canary Wharf’s 20 Canada Square. When talks first began in September 2003 the requirement was only for 128,000 sf. And the company has signed an option that would take its space over 200,000 sf.

BP will take floors one, two and three and part of floor four on a 20-year term with tenant only breaks at 10 and 15 years. If no break is exercised at the end of the 10th year, a one-year rent-free period will be granted.

And at the same time BP has taken options on the remaining 30,800 sf on floor four, 40,900 sf on floor five and 47,000 sf on floor six, all exercisable between April and November 2004.

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