Bloomberg News reports that the bank is negotiating a lease of around 125,000 square feet (11,600 square meters) at 100 Bishopsgate, a 40-story building being developed by Brookfield Property Partners LP, the person said, asking not to be identified because the talks are private.
Royal Bank of Canada agreed in November to lease more than a quarter of the space at the 900,000-square-foot building, which is due for completion in 2018, RBC and Brookfield said at the time.
Banks are competing with technology companies to lease the best work space in London’s main financial district after developers halted work on new projects during the global financial crisis, creating a shortage. The office-vacancy rate in central London is at its lowest level in about 14 years, according to data compiled by broker Knight Frank LLP.
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