Canary Wharf Shares Rise amid Takeover Speculation
Shares in the owners of Canary Wharf, which is home to a selection of serviced office space advertised here on officebroker.com, have experienced a 10% boost in response to reports that Qataris (Qatar Investment Authority) are interested in taking over the business.
Canary Wharf, which has just secured clients such as Shell, would be the latest in a series of London purchases by the Qatar Investment Authority. Having already bought into Barclays and London Stock Exchange the investment arm of the emirateΓÇÖs royal family also purchased the Park House development site in Oxford Street for some ┬ú250m ΓÇô a purchase which is being reported as the largest fee paid for an undeveloped plot of land. While Qataris already has a stake in Canary Wharf, it is believed they intend to buy the remaining 76% of Songbird Estates (Canary WharfΓÇÖs owners).
Rumours concerning the take-over of Songbird Estates and its office space empire have apparently been circulating for months, with the acquisitions outlined above and the purchase of Harrods increasing their presence within the Capital.