Global credit rating agency Moody’s has taken 110,862 ft2 (10,299 m2) of office space at 10 Gresham Street in the City of London, in a move that will see the firm relocate its European headquarters from its current base at Canary Wharf in 2026.
Confirming the letting on Wednesday, landlord CBRE Investment Management said Moody’s has also taken an option on a further 32,403 ft2 (3,000 m2) at 10 Gresham Street, which recently underwent an extensive refurbishment focused on raising its sustainability profile and improving its energy efficiency.
Moody's has been based at Canary Wharf for 15 years, and is the latest high-profile tenant to exit the estate after HSBC announced its relocation to the City last year. Other corporates swapping their docklands area offices for premises in the City include law firm Clifford Chance and Credit Suisse.
Moody's plans to move to 10 Gresham Street when the lease on its current office at One Canada Square expires in 2026.
Doug Ryker, Moody’s managing director of real estate & workplace strategy said: ‘Our move to 10 Gresham Street reflects our ongoing commitment to investing in our people and delivering a world-class employee experience. We look forward to creating a new, modern office environment that helps us foster meaningful connections, collaboration, and innovation.’
The refurbishment by architecture firm Gensler included the creation of a 2,576 ft2 private roof terrace for Moody’s, in addition to a 2,570 ft2 communal roof terrace featuring an eight-storey glazed atrium, as well as a communal indoor rooftop pavilion providing panoramic views of St Paul’s Cathedral and the City skyline.
‘In 10 Gresham Street, Moody’s has found a highly sustainable new base for its valued employees, one that combines innovative architectural design with high quality amenities, and exceptional environmental credentials in a prime City of London location,’ said Matthew Barratt, director and office asset manager at CBRE IM.
He added: ‘In line with CBRE IM’s strategic commitment to investing in sustainable real estate, the renovation will transform this iconic London building into a high-performance, super prime workspace focused on employee health and wellbeing, in keeping with the needs and expectations of modern workers.’
Knight Frank advised CBRE IM and Cushman & Wakefield advised Moody’s.
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