First finance centre tower 60% full after a second bank signs up

Wednesday 27 April 2016

BNP Paribas has signed a deal to lease two floors of the first of a planned six buildings at the Jersey International Finance Centre.

The building – currently under construction on the old Esplanade car park – is expected to be complete by next June.

BNP will be joining UBS in the building, and have agreed to take 24,000 square feet of office space.

Building on the second tower block is expected to start by the end of September, and is likely to take two years.

BNP, who employ 300 staff in the Island and who are currently based across the road in Anley Street, say that the lease underpins their commitment to operating in Jersey.

David Myatt, Country Head for BNP Paribas in the Channel Islands, said: “Having modern premises bringing all our businesses together will increase efficiency and contribute to our future development.

“This is a strong commitment to our presence in Jersey and will benefit our continued, profitable growth.”

The news has been welcomed by the States agency responsible for the Jersey International Finance Centre, the Jersey Development Company.

JDC Managing Director Lee Henry said: “We are absolutely delighted that BNP Paribas has selected the IFC for its future office accommodation.

“This letting validates JDC’s position that there is demand for modern, efficient Grade A office accommodation and this significant letting to BNP Paribas brings the level of pre- let in No.4 IFC to 60%.

“This letting also demonstrates long-term confidence in the Island as a leading financial services jurisdiction. JDC looks forward to delivering this highly modern and efficient office accommodation for BNP Paribas which will provide for the company’s future needs and operations.”