19 February 2014
Clifford Chance advises Canary Wharf Group plc on second 25 Churchill Place letting
International law firm Clifford Chance has advised long-standing client Canary Wharf Group plc on the leasing of space at 25 Churchill Place in Canary Wharf to EY.
EY, formerly known as Ernst & Young, will be taking 200,000 square feet of office space spread over eight floors of the building on a 25 year lease.
This is the second letting deal relating to 25 Churchill Place that Clifford Chance has advised on. In 2011, the Real Estate practice acted for Canary Wharf Group plc on the pre-let of half of the proposed 500,000 square feet building to the European Medicines Agency (EMA) on a 25 year lease.
25 Churchill Place, which is being built in close proximity to Clifford Chance's office in Canary Wharf, is the last piece of the original Canary Wharf masterplan and construction works on the building are due to complete later this year.
Lead Clifford Chance partner, Tony Briam, comments:
"This deal highlights the ongoing strength of Canary Wharf in attracting the world's leading firms and we are delighted to have acted for Canary Wharf Group plc on this transaction relating to 25 Churchill Place. This is an exciting time to be involved in the development of the Canary Wharf estate and we are privileged to be a part of it"
Sir George Iacobescu CBE, Chairman and Chief Executive of Canary Wharf Group said:
“We have a long professional association with EY and are very pleased that they have chosen to lease space at 25 Churchill Place. This transaction builds on the strong representation of professional services firms already at Canary Wharf and, with EY sharing the building with the EMA, demonstrates just how attractive Canary Wharf is to firms from all sectors.”
The deal follows Clifford Chance's involvement in advising Canary Wharf Group plc on the acquisition of the long leasehold interests in 7 Westferry Circus and on the purchase of a development site adjacent to the Limehouse Cut, Tower Hamlets.
The Clifford Chance team was led by Real Estate partner Tony Briam, assisted by Real Estate senior associates Angela Kearns and Ian Painter and associate Lindsay Wiltshire.