£200m deal to kick-start London’s vast Wood Wharf

Aaron Morby 7 years ago
Share

Enabling work on the 4.9m sq ft Wood Wharf scheme next to London’s Canary Wharf Estate will start in a matter of months thanks to a £200m government loan.

Under the terms of the deal, the Canary Wharf Group will use the loan to fund infrastructure needed to unlock the new phase of Canary Wharf – formerly called Wood Wharf – to the east of the present estate.

The development will deliver 3,500 homes, including 607 affordable homes, as well as 2.8m sq ft of offices, shops and leisure facilities in 30 new buildings.

Proposals have already got planning permission, so work will be able to start within months. Basic enabling works will include relocation and upgrading of utilities for the site.

Completion of the first phase of the plans will coincide with the arrival of Crossrail in 2018.

Wood Wharf Herzog De Meuron

The centrepiece of the scheme will be a 57-storey cylindrical residential skyscraper facing the waters of South Dock, designed by Herzog & de Meuron, the Swiss architects behind the Tate Modern and the “Bird’s Nest” Olympic stadium in Beijing.

Canary-Wharf wood wharf

Sir George Iacobescu CBE, chairman and chief executive officer of Canary Wharf Group said: “This crucial contribution by the Homes and Communities Agency, towards the infrastructure needed to underpin the next phase of Canary Wharf will enable the group to fulfil its ambition of creating one of the most exciting and vibrant places to live and work in London.

“This is just the type of targeted and practical assistance that our sector needs to help deal with the housing shortage in London.” he added.

Canary Wharf Group, will also be contributing in excess of £60m towards Crossrail and an additional £28m for other infrastructure needs.

This will include over £10m for local transport improvements, some of which will be used to improve the nearby Preston’s Road roundabout.

Masterplan details

  • 3,610 homes (2.5m sq ft)
  • 1.9m sq ft of commercial offices
  • 420,000 sq ft of retail and leisure
  • Two hotels
  • 8.9 acres of interconnected public spaces

Screen Shot 2013-12-10 at 12.42.09Screen Shot 2013-12-10 at 12.42.53

 

Latest project news

McLaughlin and Harvey lands £49m Stornoway port job

Blasting of 750,000t of rock and piling to start in next few weeks
4 months ago

Glencar bags 456,000 sq ft spec shed in Crewe

Expanding contractor clinches third big job for logistics developer PLP
6 months ago

Gilbert Ash wins £22m Brighton College arts centre

Work to start on performing arts building later this month
6 months ago

HG Construction scoops £60m Leeds student tower

First project in city is a near 700-room scheme for student developer SCAPE
6 months ago

Colas wins £14m Dover rapid bus route build

Firm starts work this month on route for Dover Fastrack, Kent’s first zero-emission bus service
6 months ago

Mace to start 39-storey London Bridge student tower

Groundwork starts for 905-bed student accommodation three years after planning consent
6 months ago

Go-ahead for City of London 644-room student scheme

Developer Dominvs drops plan for Europe's greenest hotel for student accommodation
6 months ago

Kier wins £30m net-zero Weston Super Mare academy

Contractor starts main construction for Winterstoke Hundred Academy expansion
6 months ago

Green light for £125m Eden Project North

Eden is waiting on a £70m public funding bid
6 months ago

BCEGI confirmed for phase 3 of £1bn Middlewood Locks

Developer Scarborough sticks with Chinese contractor for 189-home 'Railings' phase
6 months ago

McLaren submits plans for £85m Leeds build-to-rent tower

Work expected to start this summer on latest city scheme
6 months ago

Overbury gets green light for £300m Citi Tower refurb

Revamp of 42-storey Canary Wharf tower will be one of London's biggest ever refurb jobs
6 months ago

McAleer & Rushe confirms £23m Manchester hotel job

Work to start on 17 storey Maldron hotel next month
6 months ago

Realstar and Lendlease ink £120m London build to rent deal

Forward funding deal for 251 private rental flats at Deptford Landings scheme
6 months ago

Go-ahead for £40m Manchester spec office scheme

Local firm PP O'Connor to demolish Speakers House for 17-storey office block
6 months ago

Spanish giant lands deal to build £683m waste power plant

New plant will turn black bin bag waste into electricity
6 months ago

Henry wins six Ealing council housing projects

Henry Construction secures £40m West London council homes deal
6 months ago

Mace lands £300m London court and police complex

Main construction works to start on Fleet Street site this autumn
6 months ago

Graham bags £30m Birmingham build to rent job

Work set to start Crown Works residential scheme in the Colmore Business District
6 months ago

Green light for major overhaul of Surrey pharma campus

Kier and Mace bidding for revamp project with three storey glulam building at its heart
6 months ago

Galliford Try bags £28m Dover inland border control facility

Major inland border facility to be built alongside the A2 outside of Dover
6 months ago

Plans go in for £280m Leeds Whitehall Riverside scheme

Major office and flats scheme to be built next to River Aire
6 months ago

Plans in for 350-flat Salford student scheme

Developer X1 hopes to start 15-storey building later this year
7 months ago

Green light for Birmingham Paradise landmark hotel

17-storey hotel will be the 'cornerstone' of Phase 2
7 months ago

Enabling works start at £400m Manchester First Street

Downing to start main construction in March of three resi buildings rising up to 45 storeys
7 months ago

Bouygues set for London Tustin Estate 700-home rebuild

Phased building programme to start towards the end of the year
7 months ago

Graham secures third Audley retirement village

Work starts on Audley Villages site at Scarcroft, West Yorkshire.
7 months ago

BAM bags £110m refurb of iconic Covent Garden tower

Landmark Seifert-designed 15-storey Space House to get two extra floors
7 months ago

Winvic to start UK’s largest speculative shed

Ellesmere Port warehouse understood to be worth around £80m
7 months ago

Kier signs deal for £169m Luton hospital revamp

Main construction work to start this month and last until 2024
7 months ago

Contractor services