KPMG to swap City for 150,000 sq ft Canary hub

Following a year-long search for a new London base which has seen advising agent DTZ scour the entire capital for options, KPMG today confirmed it had ruled out maintaining a major presence in the City of London, and is instead focusing predominantly on Docklands. The firm is now believed to be in advanced discussions to take up to 150,000 sq ft at Fitch Ratings' 30 North Colonnade, E14, close to its existing headquarters building at 15 Canada Square, where it has occupied around 400,000 sq ft since 2010.

KPMG will relocate from Salisbury Square House in the City, EC4, where it occupies 115,000 sq ft on a lease which expires in 2015. However, KPMG is yet to make a final decision on the location of its new Canary home. Terms have not yet been agreed at 30 North Colonnade and the firm would not be drawn on specific locations. KPMG is also thought to be weighing up whether to maintain a small City office alongside the major Canary operations, meaning that the amount of space the firm eventually decides to take in Docklands could be subject to change.

A KPMG spokesman said: “KPMG has been investigating a number of options across the City and Canary Wharf as part of an accommodation review ahead of the Salisbury Square lease expiry in 2015. “Our current preference is to find space in Canary Wharf, which is dependent on finding a suitable site at suitable terms. We are currently assessing various options in Canary Wharf. No final decisions have been taken.”

CoStar News reveal last May that KPMG had instructed DTZ to search for up to 150,000 sq ft in central London following a competitive tender against eight of the capital’s biggest agents. In 2010, KPMG completed its consolidation of staff into two buildings from three other premises in the City and Docklands. Jones Lang LaSalle is the letting agent at 30 North Colonnade.


Source: James Buckley, CoStar News