IST will complete its relocation from four buildings in the City of London to 20 Canada Square, E14, by mid-2005.The main lease is for 101,000 sq ft over 20 years with breaks at 10 years and 15 years. BP has taken an additional five-year lease on 27,000 sq ft, with the option of extending this. Canary Wharf would not provide details of the rent being paid, but it is thought to be around £37.50 ($69.70) per sq ft with a rent-free period of more than two years.
Global information services provider McGraw-Hill Companies will be occupying some 266,000 sq ft at 20 Canada Square and will be moving in during January 2004.
BP had a shortlist of five other City options, including British Land's One Plantation Place, EC3; Land Securities' 30 Gresham Street, EC2 and Blackstone's Thames Exchange, EC4.DTZ advised BP.
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