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Business Solutions
Case Study
CitiGroup
Citigroup, the World's largest financial services company, undertook a major consolidation during 2001 and 2002 into their new HQ in Canary Wharf; the Citigroup Centre.
- Citi Group
The Challenge
Citigroup, the World's largest financial services company, undertook a major consolidation during 2001 and 2002 into their new Headquarters in Canary Wharf; the Citigroup Centre.Part of the Citigroup Centre consisted of 25 Canada Square, a highly specified 42 storey tower comprising of over 1.2m sq ft, and some 300,000 sq ft of this was surplus to Citigroup's requirements.
In addition, Citigroup had a number of other locations around London that were subsequently surplus to requirements. The brief was to deal with the disposal of space at 25 Canada Square, as well as these other locations.
Our Impact
An innovative and aggressive marketing campaign was devised for the surplus space at 25 Canada Square, with Cushman & Wakefield Healey & Baker pursuing a number of different solutions to mitigate the outgoings on the surplus space.In particular, the Team worked hard to provide a solution that differentiated 25 Canada Square from other buildings in the Canary Wharf market, particularly concentrating on the provision of other services around a standard letting (i.e. fit out, project management, facilities management and move assistance).
To date, transactions have been signed with MunichRe Life Services, MWB Business Exchange and Anschutz Entertainment Group.
With regards to the surplus accommodation elsewhere in London, a marketing campaign under the "Citigroup Central London Portfolio" moniker was devised, and to date has resulted in successful lettings at Creed Court, London EC4 and a surrender of 85,000 sq ft at 120 Cheapside.
The Outcome
Through the development of a strong relationship between Citigroup and Cushman & Wakefield Healey & Baker, an innovative marketing strategy has been created and implemented. At 25 Canada Square, in particular, the drive to create a unique product in a distinctly competitive market has resulted in the attraction of tenants to the building.| For more information contact: James Young +44 20 7152 5113 James.Young@eur.cushwake.com |
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