Global bank signs up as the second major tenant for IFC 1

BNP Paribas has entered into an agreement to lease two floors of IFC 1 at the International Finance Centre. The global bank which already has a large presence in Jersey will lease around 24,000 sq.ft of IFC 1 which is the 67,000 sq.ft building currently under construction on the corner of the Esplanade and Castle Street.

Lee Henry of the Jersey Development Company (JDC) 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.1 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.”

David Myatt, Country Head for BNP Paribas in the Channel Islands, added: “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.”

BNP Paribas employs around 300 staff on the island and has operated in Jersey since 1979. It provides institutional asset management, private wealth management, treasury, real estate, as well as fund and asset servicing.

The International Finance Centre will provide much-needed Grade A office accommodation in the new flagship office district. The buildings have been designed to maximise natural light and the column-free floor layouts will provide complete flexibility for occupiers. Local contractor Camerons is constructing the building.

JDC will be completing the IFC to an agreed phasing plan on a building by building basis in response to demand. This arrangement is in accordance with the Company’s operating protocols agreed by the States Assembly to minimise risk.