Allen & Overy's London Real Estate Team advised the Financial Conduct Authority on the relocation of their headquarters from Canary Wharf to Stratford, near the site of the London Olympic Stadium (now known as The International Quarter).

The FCA has agreed to take 425,000 square feet within a 515,000 square foot building to be developed by a joint venture partnership between Lend Lease and London and Continental Railways. Construction of the new building is due to start this summer and the FCA expect to move into the new building in April 2018.

The International Quarter business district will be close to the new cultural district at Stratford which has already attracted the Victoria and Albert Museum, Sadler’s Wells, the Smithsonian Institution and University College London.

Securing the FCA as an anchor tenant of The International Quarter (which when fully developed will comprise a total of four million square feet) marks an important step in the development of the area. It follows the recent announcement of an agreement with Transport for London to take the entirety of the adjacent building of 265,000 square feet. The two lettings represent approximately a third of the total office lettings in London in 2015 so far and it is understood that Lend Lease are in discussions with a number of financial institutions who are also considering a move to Stratford.

A&O previously advised the Financial Services Authority, the part -predecessor to the FCA, when it was formed including the work on its original headquarters in Canary Wharf.

The team led by Adam Cleal included Trevor Cosgrove, Nick Saner and Jane Fox-Edwards with tax input from James Burton.