Overbury to overhaul Citi’s Canary Wharf HQ in £1.1bn refit

Overbury has been appointed to deliver a landmark £1.1bn refurbishment of Citi’s 42-storey headquarters at 25 Canada Square, in one of the largest commercial refits undertaken in London.

Originally unveiled in early 2022, the scale of Citi’s investment has now been confirmed at more than ten times initial estimates, underlining the bank’s long-term commitment to the UK and its role as a global financial hub.

The project will reimagine the two-decade-old tower into a state-of-the-art, sustainable, people-centred workplace designed to future-proof Citi’s London operations. David Livingstone, Citi’s chief client officer, said: “This significant investment, which I am pleased to say is progressing on schedule and within budget, underscores Citi’s deep roots and future ambitions in the UK.”

Around two-thirds of the £1.1bn spend will flow to UK firms and workers, creating substantial opportunities for SMEs across the supply chain. Citi said that by completion almost 6,000 people will have worked on the project, many living within 25 miles of the building. Edward Skyler, Citi’s head of enterprise services and public affairs, added: “It’s a statement to our thousands of colleagues that they deserve best-in-class workspaces and to our communities that they deserve our lasting commitment.”

Delivered by Overbury, Morgan Sindall Group’s office fit-out and refurbishment specialist, the programme aims to set new benchmarks for workplace design, sustainability and user experience. Staff are due to begin moving back into the tower from spring next year.

Citi employs about 14,000 people across the UK, including in London, Edinburgh, Belfast and Jersey, making the Canada Square redevelopment a defining project for the bank and a significant moment for London’s commercial property market.