Canary Wharf Group has received the go-ahead for the development of a 4.9 million sq ft (455,000 m2) mixed-use development at Wood Wharf, the eastern continuation to the existing Canary Wharf district.
Canary Wharf Group has received the go-ahead for the development of a 4.9 million sq ft (455,000 m2) mixed-use development at Wood Wharf, the eastern continuation to the existing Canary Wharf district.
The scheme will materially expand Canary Wharf by the addition of 30 new buildings providing 2.6 million sq ft of residential, including 3,100 new homes.
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 district will also include a variety of commercial offices totalling a net 1.9 million sq ft as well as 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.
George Iacobescu, Chairman and Chief Executive Officer of Canary Wharf Group, said: 'This major eastern development of Canary Wharf will combine new high-quality offices aimed at the fast emerging TMT (Technology, Media and Telecommunications) sector.'
The company expects to construction to start on site in the fourth quarter of 2014, with the first buildings planned to be occupied as early as the end of 2018, added Iacobescu.