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Barclays PLC has acquired the long-term leasehold interest in its global headquarters at One Churchill Place in east London from Canary Wharf Group, securing control of the building beyond its current lease, the companies said on Tuesday. The UK lender said the transaction values the 999-year leasehold interest at £750 million and is expected to be broadly neutral to its common equity tier 1 capital ratio and earnings. Barclays currently occupies the building under a lease that runs until 2039. The acquisition is intended to provide greater certainty over long-term occupancy costs and increased flexibility over its London office footprint. The bank said the deal also supports its ongoing investment in its workplace, allowing it to create more flexible office space as working patterns evolve. One Churchill Place has served as Barclays’s global headquarters since 2005 and provides more than one million square feet of office space. Chief Executive CS Venkatakrishnan said the acquisition gives Barclays ‘long-term certainty, greater flexibility over our London footprint and reinforces our continued confidence in London as one of the world’s leading global financial centres.’ Canary Wharf Group Chief Executive Shobi Khan said the deal represents ‘a strong endorsement of both Canary Wharf and London’ and highlights businesses’ continued confidence in the district as a place to invest and grow. Barclays said savings on payments under its existing lease agreement are expected to be broadly offset by higher financing costs and depreciation following the transaction. Barclays shares were 1.3% higher at 511.85 pence in London on Tuesday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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