Citi

Story

The Citigroup Centre is a building complex in London. It houses Citigroup's EMEA headquarters and is located in Canary Wharf in the city's Docklands. The centre provides of floor space across two merged buildings - 33 Canada Square (known as "CGC1") and 25 Canada Square (known as "CGC2"), and houses the bulk of Citi's UK employee base. Together, both buildings form the Citigroup Centre complex.25 Canada Square, or Citigroup Centre 2, stands at 200m and, alongside HSBC Tower (with which it was built in tandem), is the joint 4th-tallest building in the United Kingdom (behind The Shard, One Canada Square and Heron Tower). Designed by César Pelli & Associates, construction of the 45-storey tower - undertaken by Canary Wharf Contractors - began in 1998 and was completed in 2001, with Citigroup leasing the building from the outset. The building was bought by RBS in 2004 along with 5 Canada Square (leased to Bank of America) for $1.12 billion. Subsequently, on 2 July 2007, CGC2 was individually sold to a joint venture between Quinlan Private and PropInvest for £1 billion (US$2 billion). Citigroup pay £46.5 million a year in rent for the tower, generating a yield of 4.6% to the owners. The east facing side of 25 Canada Square up to level 40 is configured for use by tenants.