Canary Wharf Management Wins 5 Churchill Place Contract
The new owner of 5 Churchill Place at Canary Wharf has appointed Canary Wharf Management Limited (CWML) as the facilities manager for the recently completed building.
In December the 314,000 sq. ft. office was bought by 5 Churchill Place LLP for £208 million. The new owner appointed CWML, a wholly owned subsidiary of Canary Wharf Group plc (CWG) to manage and operate the building and equipment in a safe, secure and environmentally-friendly way, retaining the long-term asset value.
The announcement demonstrates the continued growth of facilities management as a revenue stream for CWML. The company now manages over four million square feet of Grade A office space and approximately 660,000 sq ft of retail space, as well as all external areas on the 97 acre Canary Wharf estate.
Peter Kyte FRICS, Managing Director of CWML said: “Facilities management is a growth area for us and we are delighted to have won the contract at 5 Churchill Place. Canary Wharf is home to a number of the world’s best companies and retail brands and they demand exceedingly high standards of facilities management. Our integration with the design and construction areas of the business and experience from managing the Canary Wharf Estate for the past 20 years puts us in a good position to win new business in the future, both at Canary Wharf and elsewhere.”
5 Churchill Place is 12 floors high and was designed and constructed by Canary Wharf Contractors Limited, a wholly owned subsidiary of CWG. The lead architect was HOK International. The building is at the East end of the Canary Wharf Estate, adjacent to the Barclays global headquarters at One Churchill Place, the recently completed State Street building and the new Churchill Place retail precinct, featuring Jamie’s Italian restaurant.
NOTES TO EDITORS
Images of 5 Churchill Place are available on request.
5 Churchill Place LLP is owned by 5 Churchill Place LP, a limited partnership owned and controlled by a private investor based in Bermuda.
The majority of 5 Churchill Place (10 floors or 262,000 sq. ft.) is let to J.P. Morgan Markets Limited.
About Canary Wharf Group plc (CWG)
CWG is an integrated property development, investment and management group of companies. It is focused on the design, construction, leasing and management of Grade A office space and high quality retail and leisure facilities on its 97 acre Estate in East London.
Over the past 20 years CWG has regenerated derelict wharves into one of the world’s premier business districts, constructing over 15 million sq ft of office and retail space – more than any other company in London.
Canary Wharf is home to some of the world’s leading business organisations, including in the professional services; media, law, energy, financial services and transport sectors. It is also home to over 200 shops, bars, cafes and restaurants including many of Britain’s leading brands. The working population is approximately 93,000.
The Estate includes 20 acres of landscaped parks and plazas. Canary Wharf hosts over 180 events a year and has one of the UK’s largest collections of public art.
As at 30 June 2009 the Canary Wharf Group investment portfolio was 97.7% let. The weighed average unexpired lease length was 16.9 years.
CWG was named one of the Sunday Times Best 60 Green Companies in the UK in 2009.
Canary Wharf is set for further expansion. In 2009, CWG commenced work on the Canary Wharf Crossrail Station and has continued work on a new European Headquarters for J.P. Morgan. The opening by KPMG, State Street and Fitch Ratings of new office buildings on the Estate in 2009 and 2010 will also bring thousands of new workers to Canary Wharf on a daily basis.