Canary Wharf Group transforms London's skyline with modern architecture
Transforming derelict docklands into one of the world's most modern commercial complexes speaks volumes about the business acumen of integrated property development, investment and management firm Canary Wharf Group (CWG). As one of the pioneers that transformed the London skyline with the introduction of bespoke high-rise buildings at Canary Wharf, CWG strengthened London's position as a global financial powerhouse and among the best places for business.
Transforming derelict docklands into one of the world's most modern commercial complexes speaks volumes about the business acumen of integrated property development, investment and management firm Canary Wharf Group (CWG). As one of the pioneers that transformed the London skyline with the introduction of bespoke high-rise buildings at Canary Wharf, CWG strengthened London's position as a global financial powerhouse and among the best places for business.
"The success of the development was the master planning. What you see today is how we master-planned it in 1987. Canary Wharf is an exciting place that's soon to get better with the plans we have for the next phase of development," says George Iacobescu, CWG chairman and CEO.
CWG blazed the trail for modern high-rise buildings equipped with cutting-edge 6.5-metre-deep infrastructure, providing dual services for power, telecommunications and all other services. The bespoke buildings designed and built by CWG are different from the traditional buildings seen in London - simpler and beautifully crafted on the outside, but more efficient and technologically savvy inside.
CWG cultivated an urban paradise, showcasing the perfect mix of art, architecture and functionality. One Canada Square, one of the earliest buildings built on the Canary Wharf Estate, is the second-tallest building in Britain. There are 35 completed buildings at Canary Wharf and occupiers include Barclays, JP Morgan, Credit Suisse, HSBC, Clifford Chance and Citibank, among others.
The final building in the original master plan is 25 Churchill Place. Slated for completion in July, it is ready for tenants EY and the European Medicines Agency. The Canary Wharf Estate now comprises more than 16 million sq ft of space, which is 97 per cent let with almost 1 million sq ft of retail units fully let and continuing demand for new space.
The key to CWG's success is in being the only developer in London to hold a complete "A-Z value chain". All the services across the spectrum, including planning, design, construction, financing, legal, fit-out and building, and estate management, are handled by a strong team of in-house professionals.
CWG works hard to create opportunities for people in the community. The group initiates programmes to maximise opportunities for local job seekers, open the supply chain to small businesses and encourage community interaction. To illustrate this, CWG established Skillsmatch, an employment agency that matches the requirements of tenants with the specialities of locals and has placed almost £1 billion (HK$13 billion) of contracts in the last 15 years.
Ensuring the accessibility of Canary Wharf to more than 105,000 employees, CWG played a proactive role in pushing for transport links including the Docklands Light Railway and the Jubilee Line Extension. The group rallied for the construction of Crossrail, a line providing crucial links to Heathrow Airport, the City, West End and the Thames Gateway. CWG is designing and building its own Crossrail station, which includes four floors of retail and leisure space. Due to demand from retailers, it will open three years ahead of the actual station opening in 2018. Once completed, the combined rail capacity will transport up to 240,000 passengers to Canary Wharf daily.
Renowned for its expertise in designing and constructing grade A office buildings, CWG will apply its knowledge to developing a residential portfolio. CWG earlier this year received planning approval for the first exclusive residential building on the estate. The striking 58-storey Newfoundland development is scheduled for completion in 2018.
CWG is planning a very large and exciting project for the continued redevelopment of East London. Plans for a mixed-use urban neighbourhood on Canary Wharf's eastern edge will include more than 30 buildings across 4.9 million sq ft, including 3,100 high-rise homes, office, retail and public spaces.
With 11 million sq ft still to develop, CWG has one of the largest development pipelines of any London developer and aims to respond to the growing demand for commercial and residential spaces.
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