UK - UBS Global Asset Management and Oxford Properties, the real estate arm of Canada's Ontario Municipal Employees Retirement System, have achieved one of the largest speculative lettings in the City of London.

Nomura Bank will occupy the Watermark Place development in its entirety when it is completed in 2010 by UBS and Oxford.

The building, located near Cannon Bridge on the Thames' north riverbank offers the largest amount of available space in Central London and the Japanese Bank will be able to make use of 525,000 square feet of space.

The agreement surpasses the pre-letting deal between Bank of Tokyo and British Land earlier in the year for the former to occupy the latter's Ropemaker scheme in London.