Canary Wharf Office Tower Half Full Before Building Begins
Construction for a new 420 ft tall office tower in Canary Wharf is set to start in the fourth quarter of this year, with demand so high that one client has already signed up to half of the available space.
25 Churchill Place (which has as yet avoided any household-themed pseudonyms, unlike the ‘Cheesegrater‘ or the famous ‘Gherkin‘) is set to bring 500,000 sq ft of Grade A space to London’s Canary Wharf in a 20-storey tower, which will also be one of the ‘greenest’ of its kind in the area.
Back in the 1980s Songbird Estates, which owns Canary Wharf Group Plc, took part in a long-term masterplan to regenerate the Docklands after many of the docks closed.
Following extensive building and redevelopment of the area, the result is London’s prestigious Canary Wharf – which is now a major financial centre second only to the City of London, and home to many multinational corporations from the banking and insurance sectors.
25 Churchill Place is the last piece of the puzzle in the masterplan and was made possible following the European Medicines Agency’s agreement to pre-let half of the building, with a 25-year lease starting from January 2015. The company will occupy the first nine floors of the building and reportedly has the option to take four more.
In a statement, Songbird said: “The building of 25 Churchill Place is a symbolic milestone as it completes the development of the original Canary Wharf masterplan.”
Designed to achieve a BREEAM rating of ‘Excellent’, the plans feature solar power, a ‘green’ roof, lifts that store and reuse energy elsewhere in the building, and a highly efficient air conditioning system that recycles energy from ‘used’ air.
The development is expected to create up to 1,000 construction jobs.
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