Deutsche Bank to occupy Revolut’s flagship Canary Wharf HQ in major London move
German lender set to take 250,000 sq ft at YY London, doubling Revolut’s footprint and signalling Canary Wharf’s revival
Germany’s Deutsche Bank has agreed to take some 250,000 square feet of office space at the YY London building on South Colonnade in London’s Canary Wharf — the current headquarters of British fintech firm Revolut.
The move will make Deutsche Bank the building’s largest tenant and marks a significant re-commitment to Canary Wharf’s role as a leading financial district.
The YY London building — formerly known as 30 South Colonnade — was refurbished and rebranded in recent years.
Revolut moved in only last year, expanding its footprint by about 113,000 square feet, but will now be joined by Deutsche Bank in a major shift in tenancy.
While Deutsche Bank declined to comment on the plan, and the building’s owners — a joint venture between asset manager Oaktree Capital Management and real-estate firm Quadrant Estates — likewise remained silent, industry sources say the arrangement is effectively finalised.
The decision comes as Canary Wharf experiences a broader rebound in demand for office space after a slump triggered by the COVID-19 pandemic and remote-work trends.
Other major firms are also expanding in the area, supporting the district’s transformation into a revitalised business hub.
For Deutsche Bank, the relocation may align with its longer-term strategy for refining its UK footprint.
Its current lease at Upper Bank Street is not set to expire until 2028, suggesting the move is a proactive consolidation rather than a reactive measure.
For Canary Wharf landlords and the building’s owners, landing a heavyweight tenant like Deutsche Bank alongside a high-growth fintech such as Revolut underlines rising confidence in London’s Docklands as a home to both traditional banking powerhouses and innovative financial technology firms.
The move underscores how the district continues to adapt and recover, combining legacy institutions with emerging players under one skyline.
The move will make Deutsche Bank the building’s largest tenant and marks a significant re-commitment to Canary Wharf’s role as a leading financial district.
The YY London building — formerly known as 30 South Colonnade — was refurbished and rebranded in recent years.
Revolut moved in only last year, expanding its footprint by about 113,000 square feet, but will now be joined by Deutsche Bank in a major shift in tenancy.
While Deutsche Bank declined to comment on the plan, and the building’s owners — a joint venture between asset manager Oaktree Capital Management and real-estate firm Quadrant Estates — likewise remained silent, industry sources say the arrangement is effectively finalised.
The decision comes as Canary Wharf experiences a broader rebound in demand for office space after a slump triggered by the COVID-19 pandemic and remote-work trends.
Other major firms are also expanding in the area, supporting the district’s transformation into a revitalised business hub.
For Deutsche Bank, the relocation may align with its longer-term strategy for refining its UK footprint.
Its current lease at Upper Bank Street is not set to expire until 2028, suggesting the move is a proactive consolidation rather than a reactive measure.
For Canary Wharf landlords and the building’s owners, landing a heavyweight tenant like Deutsche Bank alongside a high-growth fintech such as Revolut underlines rising confidence in London’s Docklands as a home to both traditional banking powerhouses and innovative financial technology firms.
The move underscores how the district continues to adapt and recover, combining legacy institutions with emerging players under one skyline.
