BIG BUSINESS Canary Wharf Lands Two Major Leasing Deals as BBVA and SmartestEnergy Expand Footprint

Canary Wharf has secured two new major leasing agreements, pushing the total space leased in 2025 to over 250,000 square feet, reaffirming the district’s position as one of London’s premier commercial hubs.

Banco Bilbao Vizcaya Argentaria (BBVA) will expand its footprint to 60,000 sq ft and has agreed to extend its lease at One Canada Square until 2035, representing a long-term commitment to the area.

Meanwhile, SmartestEnergy, a leading energy retailer and consultant focused on helping businesses through the energy transition, has signed a lease for 20,000 sq ft at 7 Westferry Circus.

Top Firms Reinforce Canary Wharf Presence

This year has seen a wave of renewed confidence in the Wharf, with major firms recommitting to existing space. These include:

• Barclays

• Citi

• Fitch Ratings

• J.P. Morgan

• Morgan Stanley

• Revolut

• University College London (UCL)

These recommitments signal sustained corporate confidence in the district despite economic uncertainties and changing workplace trends.

Visa in Talks for Major Move

It is also understood that Visa is in advanced discussions to relocate its European headquarters from Paddington to One Canada Square, which would represent a significant win for the Wharf.

If finalised, the move would not only bring hundreds of high-value jobs but further bolster Canary Wharf’s global stature as a finance and tech destination.

Economic Confidence in the Area

Canary Wharf Group welcomed the latest deals as a sign of long-term business confidence in the area. A spokesperson said:

“These leases show that world-leading organisations continue to see long-term value in Canary Wharf. The vibrancy of our community and ongoing investment in infrastructure and sustainability continue to attract global leaders.”

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Local business forums and community groups have also welcomed the deals, highlighting the economic benefits to residents and increased investment in public spaces and transport infrastructure.