Canary Wharf Group has let 365,000 sq ft of 1-5 Bank Street to the European Bank for Reconstruction and Development EBRD.

The EBRD, which promotes the development of private sector enterprise across 38 emerging economies in three continents, will move its headquarters from Exchange Square in the City of London to Canary Wharf in 2022. It will occupy 365,000 sq. ft. across the top 13 floors of the 24-storey building at Canary Wharf on a long lease and will locate 2,500 EBRD staff there.

1-5 Bank Street is currently under development, and upon completion will be one of the most environmentally advanced and efficient offices in the UK, with a BREEAM Outstanding rating. Société Générale are already taking the lower floors in the building which will accommodate around 2,500 Société Générale employees later this year.

Sir George Iacobescu CBE, Chairman and Chief Executive Officer of Canary Wharf Group, commented: “We are delighted EBRD has chosen Canary Wharf for its new headquarters. The move is testament to the quality of our building, which will be one of the most efficient and sustainable in the UK and to the amenities and environment EBRD employees will enjoy at Canary Wharf. We are looking forward to welcoming EBRD to Canary Wharf which is increasingly a destination for people to work, live and relax.”

András Simor, Senior Vice President, Chief Financial Officer and Chief Operating Officer, European Bank for Reconstruction and Development, added: “We are greatly looking forward to our move to Canary Wharf. Our ambition was to find a world-class location for our staff, enabling us to continue our mission to change lives in the countries where we operate. 5 Bank Street will give us that, offering outstanding space and facilities while being both cost-effective and environmentally sustainable. We want to become good neighbours and friends to the other occupants of Canary Wharf when we arrive in 2022, and we’re looking forward to working closely with Canary Wharf Group in the coming months and years.”