Barclays has purchased a 999-year lease for its global headquarters at One Churchill Place in London from Canary Wharf Group for 750 million pounds, according to The Guardian.
The deal secures the UK bank's control of the 1 million square foot building beyond its current lease, which was set to expire in 2039.
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The property has served as Barclays' global headquarters since 2005 and has been undergoing refurbishment to create flexible working spaces.
This transaction occurs as other major firms in Canary Wharf, such as HSBC and Clifford Chance, have announced downsized moves back to the City of London due to hybrid working patterns.
"This acquisition gives us long-term certainty, greater flexibility over our London footprint and reinforces our continued confidence in London as one of the world's leading global financial centres," said C.
S. Venkatakrishnan, Barclays chief executive.
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Canary Wharf Group has been developing life science and technology clusters to diversify the estate, which was heavily impacted by pandemic lockdowns.
In unrelated economic data, UK real household disposable income per head contracted by 0.8 percent in the first quarter of 2026, as higher taxes on wealth and income offset gains in pay and property income.
The household saving ratio fell by 0.7 percentage points to 8.9 percent during the same quarter, while GDP grew by 0.6 percent.
"Our latest set of figures show no revision to economic growth in the first quarter of this year.
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However, growth for 2025 was revised down a little," said Liz McKeown, Director of Economic Statistics at the Office for National Statistics.
