Canary Wharf Group to build new 20-storey tower in London

Canary Wharf Group has also signed an agreement with the European Medicines Agency (EMA) for a pre-let of 250,000 square feet in the new office building of over 500,000 square feet to be constructed. EMA will occupy the promenade, ground and the first nine office floors of the 20-storey building. The agreed rent on the 25-year lease is £46.50 ($$76.4) per square feet starting from January 2015 with an option to take additional four more floors of around 27,500 square feet each. EMA, will receive a 37-month rent-free period which will be used to pay for the building’s fit-out. Construction work on the new building is scheduled to begin in the fourth quarter of 2011. Environmental features will include lifts that store and reuse energy elsewhere in the building, air-conditioning equipment which recycles energy from exhaust air and photo voltaic cells to generate energy. It will also have a green roof, which enhances biodiversity and energy efficiency. The new building, designed by Kohn Pederson Fox Associates, will reportedly achieve an 'excellent' BREEAM environmental performance rating and an Energy Performance Certificate (EPC) rating of 40 or better.