Tuesday 21 July 2014 – Media Release

Canary Wharf Group plc is delighted with today’s decision by Tower Hamlets council to grant planning permission for a net 4.9m sq ft (6.5m sq ft gross) mixed use development at Wood Wharf. Wood Wharf is the eastern continuation to the existing Canary Wharf district. The scheme will materially expand Canary Wharf by the addition of 30 new buildings and extend its appeal as a mixed use working and living urban district. Completion of the first phase of this development will coincide with the arrival in 2018 of Crossrail, which will transform transport links across London.

The new Canary Wharf neighbourhood will provide a net 2.6m sq ft (3.4m sq ft gross) of residential, including 3,100 new homes, ranging from park-side townhouses to outstanding high-rise buildings designed by some of the world’s most renowned architects. The neighbourhood will include a mix of private, intermediate and social housing as well as provide a network of high-quality parks and public squares with around 9 acres of interconnected public spaces, including a kilometre of dock-edge walkways.

This new district will include a variety of commercial offices totalling a net 1.9m sq ft (2.6 sq ft gross), appealing to a wide range of tenants, but with a focus on the creative media, technology and telecommunications sector.

It also includes a new 420 place primary school, a NHS medical centre, a Community Centre, a hotel and more than 100 new high street shops, restaurants and cafes totalling net 0.40m sq ft (0.50m sq. ft. gross).

Sir George Iacobescu, Chairman and Chief Executive Officer of Canary Wharf Group plc, said: “We are very pleased to have worked in collaboration with Tower Hamlets and the local community in helping to achieve this important planning permission. 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. It will combine new high quality offices aimed at the fast emerging TMT (Technology, Media and Telecommunications) sector; a wide variety of high street shops and restaurants, and a range of new housing opportunities designed around generous newly created public spaces. We expect to be on site in the fourth quarter of 2014, with the first buildings to be occupied as early as the end of 2018.”

The development is expected to create over 17,000 new jobs within the new development alone, with 3,500 of these taken by local residents.  It will also continue to place work for local small and medium sized companies through East London Business Place (ELBP). ELBP has already helped to generate £1 billion worth of business for local companies since 1997, building on Canary Wharf Group’s commitment to the community in this dynamic and culturally rich area of London.

ENDS

Notes to editors:

About Canary Wharf Group plc:
Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail and leisure facilities in central London. Over the past 20 years Canary Wharf Group has regenerated derelict wharves into one of the world’s premier business and shopping districts, constructing over 16 m sq ft of office space; more than any other company in London. These buildings are occupied by over 100,000 people.

Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 280 shops, bars, cafes and restaurants including many of Britain’s leading brands.

The Group has also been involved with four projects away from the Canary Wharf Estate. Following the successful completion of Pan Peninsula, Drapers Gardens and the ongoing construction of 20 Fenchurch Street (Walkie Talkie) in the City of London, the Group is also in a joint venture with Qatari Diar for the redevelopment of the Shell Centre on London’s South Bank.

ELBP is a partnership of private and public sector organisations led by Canary Wharf Group with support from East London Business Alliance.  ELBP provide a free face-to-face procurement support service for buyers and suppliers in East London in order to maximise business opportunities for local companies. ELBP work with micro and small to medium sized enterprises (SME) and buyers across all industry sectors to source and match local suppliers to their purchasing needs.

www.elbp.co.uk

www.canarywharf.com

For more information, please contact:

Canary Wharf Group

John Garwood / Ajay Teli
Canary Wharf Group plc
Tel: 020 7418 2326
john.garwood@canarywharf.com

Brunswick Group

Elizabeth Adams / Rob Mindell
Tel +44 (0) 20 7404 5959
CanaryWharf@Brunswickgroup.com