Canary Wharf spreads east with new towers and 3,000 homes planned

July 22, 2014

Wood Wharf project gets green light in financial hub’s first major expansion since 2008 financial crisis

More than 3,000 homes are to be built at the eastern edge of Canary Wharf after Tower Hamlets council approved the project, the first extension to the financial district since the 2008 banking crisis.

Canary Wharf Group, majority-owned by Songbird Estates, has been granted planning permission to construct 30 buildings, comprising 4.9m square feet of homes, offices and shops, at Wood Wharf, just a stone’s throw from the headquarters of some of the world’s largest banks.

UK commercial property market strengthening, says British Land

January 28, 2014

/ Sean Farrell

Britain’s second-biggest property company says there is more interest in its London office space

British Land said the UK commercial property market was strengthening with increased investment spreading from London into regional markets.

In a trading update, Britain’s second-biggest property company said there was more interest in its London office space and that retailers were looking to open new stores.

Tenants shun Shard leaving Europe's first vertical city up in the air

January 24, 2014

/ Simon Goodley

London skyline’s £1.5bn addition remains all but empty year on from opening, with flats designed to pull in super-rich unsold

Soaring 310 metres (1,016ft) high and with 72 storeys, everything about the Shard is dramatic.

The London Bridge skyscraper the capital’s newest landmark, with views stretching 40 miles and which is visible to drivers crawling around the M25 bills itself as "Europe’s first vertical city".

Bank of England director hails shift in property bubble policy

December 20, 2013

/ Katie Allen

Andrew Haldane says there is hope next property cycle will be different, and welcomes discussion on more realistic valuations

The prospect of decades of damaging property booms and busts coming to an end has been raised thanks to proactive policymakers and more realistic valuations from the real estate industry, a top Bank of England official has said.

Against the backdrop of a crash that left commercial property prices 37% below their peak, Andrew Haldane, executive director for financial stability at the Bank said there were reasons to hope the next cycle could be different.