UCL School of Management has expanded its presence at Canary Wharf Group’s One Canada Square, E14.
The school will occupy two additional floors in the tower, where it previously had a lease for the 38th floor and later expanded to the building’s 50th floor.
The company has agreed a lease for 15 years on the 44,544 sq ft space, at a rent of £60 per sq ft, according to EG Radius data.
John Mulqueen, chief investment officer at Canary Wharf Group, said: “We are delighted that UCL School of Management is expanding its state-of-the-art learning facilities at Canary Wharf. UCL is an important part of our dynamic, mixed-use ecosystem, where our customers benefit from access to world-leading organisations and a rich mix of retail, leisure, hospitality and green spaces.”
According to change-of-use plans submitted to Tower Hamlets Council last year, the new space will be used to provide staff offices, as well as teaching and learning areas.
Davide Ravasi, director at UCL School of Management, said: “Our location in Canary Wharf gives us a clear competitive advantage from which our students and faculty will continue to benefit. I have no doubt that increasing our presence there will enhance our ability to produce world-leading research, economic and societal impact, and innovative education for years to come.”
The move follows strong educational occupier office take-up in recent years, with London office lettings for such occupiers hitting 351,091 sq ft in the year to the end of June 2024 – 8.6% above the 10-year average, according to data from Knight Frank.
The UCL deal will add to the Docklands submarket’s share of these lettings, which was already almost a third of all educational deals in London during that year.
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