- JPMorganChase will build a new 3M SF HQ at the Riverside South site in Canary Wharf, consolidating its London workforce in what will be the UK’s largest office building.
- The Foster + Partners-designed tower will house up to 12K employees and is expected to take six years to build, pending planning approvals.
- The project is estimated to inject £9.9B ($13B) into the UK economy and create over 7,800 jobs during construction, further cementing London’s role as a global financial hub.
A Tower Decades In The Making
JPMorganChase will move forward with a landmark headquarters at Canary Wharf’s Riverside site, acquired by the firm in 2008, reports CoStar. Long rumored and repeatedly delayed, the project will now move forward in partnership with Canary Wharf Group, pending final approvals.
Designed by Foster + Partners — the architects behind JPMorgan’s global HQ at 270 Park Avenue in New York — the new tower will span 3M SF. It will feature trading floors, wellness amenities, public parkland, and collaborative office space tailored for a hybrid workforce.
Economic Commitment
A study commissioned by the bank estimates the combined construction and redevelopment efforts will contribute nearly £10B to the UK economy. This includes upgrades to the existing 25 Bank Street property and spans a six-year period.
The firm already contributes an estimated £7.5B annually through its 13K-strong London workforce. Once the Riverside tower is complete, JPMorgan plans to consolidate its London operations into the new HQ and 60 Victoria Embankment. Future plans for 25 Bank Street are still under review.
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A Vote Of Confidence In The UK
The announcement comes amid renewed momentum in the UK office sector and bullish sentiment for London’s position as a financial capital. JPMorgan CEO Jamie Dimon called the move a “lasting commitment” to the UK and its economic future. UK Chancellor Rachel Reeves and London Mayor Sadiq Khan also praised the decision. Both described it as a “multi-billion pound vote of confidence” in the UK.
This follows JPMorgan’s recent pledge of £350M in its Bournemouth campus and expanded community investments totaling £90M since 2019.
What’s Next
Construction is set to begin once national and local approvals are secured. In the meantime, Foster + Partners is leading the design, while Canary Wharf Group serves as co-developer. Ultimately, the new Riverside HQ is expected to redefine London’s skyline and serve as the anchor for a modernized Canary Wharf.
The project boosts 2025 Docklands Core leasing, with over 500K SF signed — the strongest activity recorded since 2019.
JPMorganChase’s London HQ will serve as a flagship for its expanding operations across Europe, the Middle East, and Asia.
