Rising from the ashes of a beleaguered shipping industry, Canary Wharf is one of the world’s busiest business districts.
Over the last forty years, Canary Wharf has grown from a series of warehouses and derelict docks to become, along with London City Centre, the UK’s most bustling business district. Playing host to the headquarters of some of the most illustrious banks and businesses in the world.
From 1802, West India Docks, upon which Canary Wharf now resides, played host to fleets of ships importing goods from as far afield as Africa and South America. Exotic fruits, vegetables and spices moved through the district generating vast sums of money for the English economy.
Fast-forward to the 1960’s and with the shipping industry on its knees; West India Docks and the rest of the Isle of Dogs fell into disrepair. It wasn’t until a proposal to transform the area into a new business district was purchased by Olympia & York, that the Canary Wharf of toCanary Wharf
day began to take shape.
Construction began in 1988 and by 1991 the first phase was complete, One Canada Square, the tallest building in the UK at the time, was the jewel in the crown.
Unfortunately, the completion of One Canada Square tied in almost perfectly with a crash in the commercial property market, resulting in Olympia & Wharf filing for bankruptcy. It wasn’t until 1995 that the project was resurrected by a group of investors known as the Canary Wharf Group. An upturn in the property market, coupled with the completion of expansion works to the Jubilee Line, paved the way for Canary Wharf to become a hub of international commerce.
In recent times, developers in conjunction with Tower Hamlets council have taken a proactive approach to making Canary Wharf a more enjoyable living environment. The construction of numerous cafes, bars and restaurants; in particular the Jubilee Place Mall, a subterranean shopping centre playing host to almost 150 retail outlets and eateries, coupled with some wonderful architecture, waterfront environments and convenient DLR and Jubilee Line links, has seen buyers and renters flock to Canary Wharf.
The sharp increase in demand since the mid-nineties has seen the introduction of numerous high-quality residential developments. Property investors were quick to identify Canary Wharf’s potential for growth and have been reaping the benefits ever since. Our investors page provides additional information for anyone looking to invest in Canary Wharf.
If you are looking to rent, let or buy property in the Canary Wharf area, please don’t hesitate to contact our expert sales team.
Tel: 0203 7636 123