link.png A growth spurt for Canary Wharf← Back

Image source - Pixabay

As property developers continue to invest in London’s luxury real estate, Canary Wharf is set to expand by a third after Tower Hamlets awarded developer Songbird Estates planning permission for a new scheme.
This comes as Canary Wharf’s first significant expansion since the crisis, adding on 4.9 million square feet to the area. 30 buildings will be added to the Canary Wharf district, amongst which a primary school, a hotel and NHS hospital. Residential offerings will include luxury penthouses. Features of the scheme will include a cylindrical residential tower by Herzog & de Meuron, the architects who designed the Tate Modern and the Beijing National Stadium. 
The project is expected to generate 17,000 new jobs, through the creation of 3.8 million square feet of office space. This is an attempt to attract telecommunication, media and technology businesses, opening up Canary Wharf beyond the financial industry. Chairman and Chief Executive of the Canary Wharf Group, Sir George Iacobescu said: “This major eastern development of Canary Wharf will reinforce the district as one of London’s most vibrant and dynamic mixed-use commercial and residential districts.”
The Canary Wharf Group announced that construction is to start this year. The first buildings of the project are slated to be completed in 2018, coinciding with the opening of Crossrail, the railway line that will connect West and East London. 
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