Friday 10 April 2015 – Media Release

Planning permission granted By Tower Hamlets at Canary Wharf’s 1 Bank Street and 1 Park Place

Canary Wharf Group plc has been granted full planning permission for 1 Bank Street and outline planning permission for 1 Park Place at Canary Wharf by Tower Hamlets Strategic Planning Committee.

Designed by Kohn Pederson Fox (KPF), 1 Bank Street will be a striking new 700,000 sq ft building with 27 storeys including three levels of state of the art trading floors, a retail unit at ground level, a free-standing retail kiosk on South Dock Promenade, public realm, planting and landscaping and basement car and cycle parking. There will also be public access to a new promenade along the South Dock. Site enabling works commenced earlier this year and construction will begin later in 2015.

Société Générale, one of Europe’s most important banking institutions, has already agreed a lease for 280,000 sq ft of 1 Bank Street. It will occupy the ground and first to seventh floors on a 25 year lease at a rent of £47.50 per sq ft and 36 months’ rent free commencing from the summer of 2019.

Following a resolution to grant at Strategic Development Committee in 2014, outline planning permission has been granted at 1 Park Place. Consent has been given for an office building comprised of up to just over 1 million sq ft of floorspace. The Council will now determine a reserved matters application for this office building which is designed by Squire & Partners but there are no immediate plans to develop this site.

ENDS

For more information, please contact:

Canary Wharf Group press office
020 7418 2000

NOTES TO EDITORS
Canary Wharf Group plc 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, residential and leisure facilities in central London. Over the past two decades, Canary Wharf Group has regenerated derelict wharves into one of the world’s premier business and shopping districts, constructing over 16.4m sq ft of office space. These buildings are now occupied by over 105,000 people. The company has an exciting development pipeline of over 11m sq ft of office, residential and retail space which is one of the largest of any London based developer.

Canary Wharf Group’s tenants include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. The Group has also developed and successfully let over 300 shops, bars, cafes and restaurants to many of Britain’s leading brands. In March 2013, the Group launched its Level39 initiative to attract fintech and smart cities start-ups to Canary Wharf. Level39 is now home to over 160 start-up companies in 80,000 sq ft across three floors at One Canada Square.

The Group’s world-class, year-round arts and events programme offers over 100 diverse and culturally inspiring events performed throughout the Estate. Winner of the 2010 Christie’s Award for Best Corporate Art Collection and Programme at the International Art and Work Awards, Canary Wharf Group showcases over 65 pieces of permanent art throughout the Estate, designed and created by more than 50 artists and craftsmen. A regular exhibition programme in the Lobby of One Canada Square and Jubilee Park further adds to the Estate’s comprehensive cultural and creative offering.

In addition to development on the Canary Wharf Estate, the Group is involved with projects across London. The Pan Peninsula and Drapers Gardens developments have been successfully completed and the 20 Fenchurch Street (Walkie Talkie) development in the City of London was completed in late 2014 and is already nearly fully let. The Group is also in a joint venture to redevelop the Shell Centre on London’s South Bank.

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