Visa is in advanced talks to relocate its European headquarters to London’s Canary Wharf, in a vote of confidence for the Docklands business district following a wave of recent tenant departures.
According to people familiar with the matter, the global payments giant is preparing to take over approximately 170,000 sq ft of space at One Canada Square — the iconic 50-storey tower previously occupied by credit ratings agency Moody’s.
Moody’s announced last year that it would vacate Canary Wharf in favour of a new office near St Paul’s Cathedral when its lease expires in 2025.
Visa’s potential move comes ahead of the expiry of its current lease at 1 Sheldon Square in Paddington, which runs until 2028, and would bring a high-profile, blue-chip occupier into the heart of Canary Wharf at a time when other major firms are relocating.
If finalised, the deal would deliver a much-needed boost to Canary Wharf Group, which has been actively repositioning the estate to diversify beyond traditional financial services tenants.
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