Oaktree Capital Management L.P., the global investment firm specialising in alternative investments and Quadrant, the independent UK real estate asset management and development company, has let five floors at YY London, its newly refurbished sustainable 415,000 sq ft Canary Wharf office building, to Deutsche Bank.
Following a London-wide search, Deutsche Bank is set to move into floors 1-5 at YY London having signed a 15-year lease. The multinational occupier chose YY London for its best-in-class workspace, amenity and leading sustainability credentials, as well as Canary Wharf’s excellent transport links and exceptional leisure offerings that will benefit its employees. Deutsche Bank will house its infrastructure functions including technology and operations at YY London, ahead of the expiry of its current lease at 10 Upper Bank Street in July 2028.
This deal follows the recent signing of a separate agreement with an undisclosed international business that has leased the eighth floor of YY London. YY London is now 85% let or under offer, with around 60,000 sq ft remaining across floors 6 and 7.
Vathany Vijayaratna, Deutsche Bank’s CEO for the UK and Ireland, said:
“This move underlines our commitment to London. YY London’s sustainability performance, employee experience and ability to support modern ways of working made it the clear choice as we plan for the years ahead.”
Stuart Keith, Managing Director of Oaktree’s Real Estate Opportunities Strategy, said:
“Oaktree, alongside our partner Quadrant Estates are delighted to welcome Deutsche Bank to YY London. This letting is a testament to what we set out to create at 30 South Colonnade: a distinctive, net-zero-in-operation building with a waterfront setting and amenities designed around how modern office occupiers want to work. Deutsche Bank’s commitment to YY London reflects both the quality of the building and the enduring appeal of Canary Wharf as a global business destination.”
Jeremy Lacey, Development Director at Quadrant, said:
“YY London is a shining example of high-quality, sustainable, connected workspace that supports the way major modern businesses work. Deutsche Bank wanted a workplace that reflected its commitment to sustainability, employee wellbeing and attracting the very best talent, and we are pleased to welcome them to the building. This deal is also yet another recent example of Canary Wharf’s ability to attract and retain innovative and internationally recognised businesses.”
YY London represents the transformation of one of Canary Wharf’s first office buildings intoone of Europe’s smartest and most sustainable workplaces. Formerly known as 30 South Colonnade and first completed in 1991, it was previously home to Thomson Reuters and was renowned for the stock ticker that ran around its curved façade. Following its refurbishment, YY London’s design prioritises productivity, health, and sustainability. With technology, WELL Platinum amenities, and biophilic design, it offers flexible, efficient spaces that enhance occupier wellbeing and productivity.
YY London is an all-electric BREEAM Outstanding net zero in operation building and is one of the UK’s first NABERS 5* rated workspaces. YY London’s innovative retrofit saw much of the building’s existing structure being reused, saving an estimated 10,260 tonnes of CO2 emissions. YY London was part of the catalyst that has driven the wider re-imagination of Canary Wharf in recent years, providing a sustainable Grade-A building suited to modern occupier requirements and offering a blueprint for how the estate’s older buildings can be transformed for the future.
YY London was purchased in 2019 by a joint venture between Quadrant and funds managed by Oaktree Capital Management, L.P. to extensively refurbish the building to a highly modern standard.
