FCA to leave Canary Wharf in favour of Olympic Park

The Financial Conduct Authority (FCA) is to leave its Canary Wharf base in favour of the redeveloped Olympic Park in Stratford, east London.

The FT reports the FCA will move to the new business district at the former Olympic Park when its current leave ends in 2018. It said the regulator is the biggest single tenant so far in the area, which could, according to the prime minister, become a new "tech city". The FCA is set to take 430,000 sq ft in the £2bn Stratford International Centre, the report added. Office space in Canary Wharf goes for an average £45 per square foot in Canary Wharf and about £65 in the City, estate agent Savills said. However, it is thought Stratford would cost about £30 per square foot. FCA chief...