London: The most ambitious phase of the next stage of London’s Docklands is taking shape. The owner of Canary Wharf Project has won the permission to increase the size of the estate by a third.
It entails Canary Wharf Group to increase Wood Wharf extension to the east of its main estate with 30 new buildings and 3,100 homes. The project is one of the new developments in Canary Wharf. Master-planned by architect Allies and Morrison, the project is expected to fast track the first phase of the development in time for the arrival of the Crossrail link in 2018.
The Wood Wharf site was taken over by Canary Wharf in 2012. Subsequently, it It bought out the stakes of partners like British Waterways and developer Ballymore for £90 million. They hired the previous partners, architects Lord Richard Rogers and Sir Terry Farrell, to draw up earlier master plans.
The new offerings will boost the region and add many townhouses and high-rise buildings. It will include social housing interspersed with parks and public squares.
In the upcoming office space media, technology and telecoms firms alongside financial tenants can take occupancy. The project is being envisaged to rival The City. It is expected that the development will also create some 17,000 jobs, of which 3500 will be go to the local residents.
Sir George Lacobescu, chairman, Canary Wharf noted that the major eastern development of Canary Wharf will “reinforce the district as one of London’s most dynamic, mixed-use commercial and residential districts”.
Max Property Products
The projects from Property developer Nick Leslau and his team are pricier by £20 million. Having received an offer of £448 million offer for his Max Property company, it owns a host of assets including London’s St Katharine Docks.
It was launched to snap up bargains after the financial crisis and raised more than £200 million in 2009. Leslau and other management own 11 percent of Max. The stake is valued at £46 million by property fund giant Blackstone. Leslau and colleague Mike Brown own most of the stake.