LONDON-JP Morgan will consolidate about 8,000 employees in four local offices into a new one-million-square-foot European headquarters, as the investment firm has purchased 25 Bank St. for a reported $770 million. Lehman Bros. left the building, in the Canary Wharf area, in 2008 when the company collapsed.

JP Morgan canceled two separate plans in the past two years to build a new office building, first at the St. Alphage House and then on a site it purchased at the Riverside South site in the Canary Wharf area. The Canary Wharf Group PLC said Monday that it will continue to work with JP Morgan until 2016 as construction and development manager to develop the Riverside South site for future use.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.