Deutsche Bank is to take five floors at the refurbished 415K SF YY London office building in Canary Wharf, retrofitted by Oaktree Capital Management and Quadrant.

Following a London-wide search, Deutsche Bank is set to move into the first through fifth floors at YY London after signing a 15-year lease for what equates to about 250K SF. It will house its infrastructure functions, including technology and operations, at YY London, ahead of the expiry of its lease at 10 Upper Bank Street in July 2028.

The deal follows the signing of a separate agreement with an undisclosed international business that has leased the eighth floor of YY London, which is now 85% let or under offer, with around 60K SF remaining across the sixth and seventh floors, according to the developers.

Formerly known as 30 South Colonnade and initially completed in 1991, YY London was previously home to Thomson Reuters and was known for the stock ticker that ran around its curved facade.

YY London was purchased in 2019 by a joint venture between Quadrant and funds managed by Oaktree Capital Management.

Following its refurbishment, YY London is now all-electric, has BREEAM Outstanding and NABERS five-star ratings, and is net-zero in operation. The retrofit saw much of the building’s existing structure being reused, saving an estimated 10,260 tonnes of carbon dioxide emissions, the developers said.

“This move underlines our commitment to London. YY London’s sustainability performance, employee experience and ability to support modern ways of working made it the clear choice as we plan for the years ahead,” Deutsche Bank UK and Ireland CEO Vathany Vijayaratna said in a statement.

“This letting is a testament to what we set out to create at 30 South Colonnade: a distinctive, net-zero-in-operation building with a waterfront setting and amenities designed around how modern office occupiers want to work,” Oaktree Real Estate Managing Director of Opportunities Strategy Stuart Keith said.

Deutsche Bank's commitment continues a positive run for leasing in Canary Wharf. Earlier this year, PwC signed for 350K SF at One Eden, previously 33 Canada Square, a refurbished building in the district.