Canary Wharf’s luxury One Park Drive apartments to go on sale in Hong Kong

Canary Wharf Group, which has transformed London’s once-derelict Docklands into a prime office location over the past 20 years, says it is time to expand into residential development in the British capital’s business centre.

Brian De’ath, director of residential sales, said the group has built and owns a portfolio of 17 million square feet of grade-A office and retail space in Canary Wharf and elsewhere in London.

Shrugging off the potential impact of Britain’s decision to leave the European Union on housing demand, the group now plans to build 3,300 new homes in the new district of Canary Wharf where it has committed to investing more than £2 billion, he said.

“It makes perfect sense to have residential projects built in the area now,” said De’ath.

Canary Wharf Group, a wholly owned joint venture between Brookfield Property Partners and the Qatar Investment Authority, is set to launch sales of its luxury residential project, One Park Drive, for Hong Kong buyers on May 12.

The 58-storey One Park Drive development comprises 483 units, with prices starting from £570,000 (HK$5.75 million) for studio apartments with areas ranging from 435 to 475 square foot.