Canary Wharf Group has signed American digital payments business Visa for 300,000 square feet of offices on a 15-year term at the landmark One Canada Square at its Docklands estate.
The financial transactions business is relocating its European headquarters from Paddington to Canary Wharf from the summer of 2028.
The transaction adds to strong leasing momentum at Canary Wharf recently with more than 750,000 square feet of office transactions announced this year. 2025 will be CWG’s best office leasing year in more than a decade.
“Relocating our European headquarters marks a significant investment in our people and a bold next step for Visa in Europe,” said Antony Cahill, Regional President and CEO, Visa Europe in a statement. “Our new home at One Canada Square will provide an open, modern and welcoming environment for our clients and partners.”
Shobi Khan, CEO of CWG, added: “Canary Wharf continues to attract a diverse range of global businesses. We are delighted to welcome Visa who have chosen the Wharf for their European headquarters as the best location to support their business growth. Our first-rate connectivity, world-class amenities and vibrant community make us an exceptional environment where businesses can establish and grow."
Over the past six years, approximately £7 billion has been invested in new developments, infrastructure, and amenities by CWG and other stakeholders at Canary Wharf.
Visa joins a list of blue-chip companies committed to the Wharf recently including JPMorgan Chase with its 3-million-square-foot new European headquarters, Barclays, BBVA, Citibank, Fitch, HSBC, Morgan Stanley, Revolut and UCL alongside new arrivals including AviadoBio, Hershey’s, Hexaware, OKX, McLaren Construction, and Zopa.
One Canada Square offers traditional office space and coworking. Tenants include Canadian investment giant Brookfield, which owns Canary Wharf Group jointly with Qatar Investment Authority, Fisher Investments and University College London.
Visa occupies around 195,000 square feet at British Land's 1 Sheldon Square in Paddington and has a lease expiry at the site in 2028.
The size of the letting has been a surprise. Market sources told CoStar last year that Visa had mandated CBRE to lead the search for its new office space. The firm had a requirement for between 150,000 square feet to 200,000 square feet of offices and had shortlisted around five buildings at the time before it emerged earlier this year it had decided on One Canada Square.
A November analytics note by CoStar found that leasing activity has surged in 2025 in the Docklands Core market, which includes Canary Wharf, as occupiers look east to satisfy their occupational requirements. By then, over 500,000 square feet of new leases have been signed, making it the strongest year since 2019, with two months to spare.
There is expectation that Deutsche Bank will take a significant office space at the YY building at the Docklands before the year end.
CBRE advised Visa and Canary Wharf Group. JLL also advise Canary Wharf Group at One Canada Square.