Deutsche Bank Rents New Office in London’s Canary Wharf | LeapRate
Deutsche Bank has secured new office space at YY London in Canary Wharf, marking another vote of confidence in the London financial district and continuing a wave of major banking leases in the area.
The German lender confirmed on Thursday that it has taken space in the recently refurbished YY building, located at 30 South Colonnade, in a deal reported to cover around 250,000 square feet.
The building, owned by a venture between Oaktree Capital Management and Quadrant Estates, also houses the global headquarters of fintech giant Revolut and was previously occupied by Thomson Reuters.
The move will house Deutsche Bank’s infrastructure functions, including technology and operations teams, currently based at 10 Upper Bank Street in Canary Wharf.
The bank’s lease at that building expires in July 2028, and staff are expected to relocate to YY London in early 2028. Deutsche Bank’s core businesses remain headquartered at 21 Moorfields in the City of London, where asset manager DWS is also set to relocate in late 2027.
“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,” said Vathany Vijayaratna, Deutsche Bank’s CEO for the UK and Ireland.
Quadrant’s Development Director, Jeremy Lacey, welcomed the letting as confirmation of the building’s appeal, while Oaktree’s Stuart Keith called it “a testament” to the fully electric, net-zero-in-operation asset the two firms built at 30 South Colonnade.
The deal adds to a string of recent leasing wins for Canary Wharf, reinforcing the district’s standing as a hub for major financial institutions despite broader questions over office demand in London.
