Moody’s latest firm to quit Canary Wharf for smaller offices in London

Credit ratings agency Moody’s is relocating its London headquarters from offices in Canary Wharf to a new location in the City of London. This move adds to the trend of financial firms opting to leave the Docklands district. The company will shift to offices at 10 Gresham Street in 2026, coinciding with the expiration of its lease at One Canada Square, the iconic pyramid-topped skyscraper in the heart of the east London estate. A spokesperson for Moody’s confirmed the selection of the new location, emphasizing that the move is subject to closing.

Moody’s has actively sought a new London headquarters, eyeing space that is likely to be nearly a third smaller than its current base, as reported by Bloomberg News last year.

Notably, several key tenants, including HSBC Holdings Plc, have announced plans to leave Canary Wharf, prompting discussions about the district’s future. The owners of the district, Qatar Investment Authority and Brookfield Corp., have been gradually reshaping the area by introducing new homes, stores, restaurants, and diversifying the tenant base.

Our report on the changing face of Canary Wharf and similar business districts in the wake of new market conditions can be read in the October 2023 issue of IN Magazine.