Morgan Stanley will not quit Canary Wharf as it signs new lease until 2038

Morgan Stanley will not be part of the exodus from Canary Wharf, the US investment banking giant revealed today, as it extended the lease for its European HQ until 2038.

Big-name tenants like HSBC, Clifford Chance and Moody’s recently announced plans to leave the Docklands financial hub for the City, as the rise of hybrid work sees firms looking for smaller offices.

Morgan Stanley was reportedly considering a move of its own when its lease expired in 2028, but the new deal keeps it in Canary Wharf’s Middle Dock for a further decade.

Morgan Stanley EMEA chief operating officer Chris Beatty said: “The Wharf is a great place to work and we’re looking forward to witnessing the next stages of Canary Wharf’s evolution first hand.”

The new lease for the includes an investment to boost the 547,000 sq ft building’s sustainability credentials.

Canary Wharf Group CEO Shobi Khan said: “We are delighted Morgan Stanley is reconfirming its commitment to Canary Wharf to be a part of an extraordinary environment for the world’s leading and most innovative companies. 

“Occupiers increasingly value Canary Wharf’s vibrant mixed use neighbourhood for its excellent transport links, diverse leisure and amenities including access to 5km of water boardwalks and 16.5 acres of parks. In addition, with over 300 shops and 70 cafes, bars, and restaurants, there is a plethora of diverse retail and dining options. 

“Morgan Stanley will continue to benefit from CWG’s partnership with the Eden Project, greening the estate and transforming the Middle Dock, opening up the water and providing greenery for everyone to enjoy.”