JPMorgan Plans Major Office Expansion in London with Foster + Partners Design

JPMorgan Chase is working with Foster + Partners to design a new 2 million-square-foot office building in London's Canary Wharf district, potentially the largest in the city. The bank is exploring options for its European headquarters, including a move to a new building in the City of London or a refurbishment of its existing premises. Representatives for JPMorgan and Foster + Partners declined to comment.

JPMorgan Chase & Co. is in the process of designing a new 2 million-square-foot office building in London's Canary Wharf district, potentially the largest in the city. The bank is exploring various options for its European headquarters, including a move to a new building in the City of London or a refurbishment of its existing premises at 25 Bank Street in Canary Wharf.

Foster + Partners, renowned for designing the bank's sprawling 2.5 million square-feet Park Avenue headquarters in Manhattan, has been appointed to draft new designs for the Riverside South site in Canary Wharf. The architecture firm is expected to present its proposals to JPMorgan in the coming weeks JPMorgan Draws Up New Plans for London’s Biggest Office Building^[1].

The proposed 2 million-square-foot-plus building would be significantly larger than the current biggest office building in London, the 1.2 million-square-foot 22 Bishopsgate. The site has the potential to accommodate a building with the longest frontage of any development on London’s River Thames, offering unimpeded views west toward the City of London skyline.

JPMorgan’s leadership has been focusing on the bank’s future in London following the completion of its New York head office development. The lender is scouting for space in London at a time when the city is facing a dearth of large-scale new office projects due to factors such as Brexit, post-pandemic flexible working, massive inflation in construction costs, and higher interest rates JPMorgan Draws Up New Plans for London’s Biggest Office Building^[1].

While JPMorgan has not yet decided on a final location, the bank is seriously exploring other options, including a move to a new building in the City of London or a refurbishment of its existing premises. The site at 25 Bank Street is more than 20 years old and may not meet the bank’s current and future growth ambitions.

The bank has more flexibility due to owning both its existing office premises and the land parcel at the western end of Canary Wharf. This allows JPMorgan to assess its long-term options without the constraints of fixed-term leases. Additionally, JPMorgan has resolved a short-term space squeeze by leasing additional space in Canary Wharf at 1 Cabot Square.

Should JPMorgan ultimately settle for the Riverside South site, the location may have one disadvantage: it is farther away from Canary Wharf’s various transport hubs, including the Elizabeth Line, Docklands Light Railway, and London underground stations, compared to its current office that is next door to the tube entrance.

The potential new building is part of JPMorgan's broader strategy to expand its European footprint. The bank is also planning to launch a consumer bank in Germany starting in the second quarter of 2026, with its headquarters in Berlin JPMorgan Chase to roll out retail banking in Germany next year - report^[2].

Representatives for JPMorgan and Foster + Partners declined to comment on the details of the project. As JPMorgan continues to evaluate its options, the future of its European headquarters remains uncertain, but the bank's strategic planning indicates a commitment to securing sufficient space for its growth ambitions.