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New office development on way in Drapers Gardens
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Canary Wharf Group has announced that it is to redevelop an area of London, the first away from the Canary Wharf Estate.
It will join forces with both Morgan Stanley and Exemplar Developments in order to offer its services at the Drapers Gardens project. Once completed, the scheme is expected to offer 14 floors and 300,000 sq ft of office space and has a projected finish date of 2009. The office space is set to be designed by Foggo Associates. Canary Wharf Group's head of leasing Richard Archer said that the company is looking to expand even further after this deal. "We hope this will be the first of other similar projects and we are currently looking for other opportunities in central London," he commented. In addition, Canary Wharf Group will deal with the daily running of the site and will own 20 per cent of the share capital in the companies that reside in the building. Canary Wharf Estate covers over 97 acres and 80,000 people work in the area. www.businessinberkshrie.co.uk/businessinlondon
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