Canary Wharf Group will this week be facing a public consultation after revealing plans for a Cross Rail Station to be located at the North Dock, Canary Wharf. Plans for the new Foster & Partners-designed centre will offer the London public a new rail station and four levels of shops and restaurants with a children’s centre above. Finishing the centre off will be a stylish, yet eco-friendly Biodome roof from well-known landscape artist Gillespies.
Although completion of the Biodome centre is not expected to be until 2017, investing in the centre at this point may be foreseen as somewhat risky given the current conditions of the Canary Wharf office market. Commercial Property Magazine Property Week this week revealed that as it stands the Canary Wharf area, with its high number of financial related occupants, is facing crunch time. The recent recession has seen financial companies such as Barclays, Citi and Lehman Brothers, who dominate the space of the Docklands, needing to appoint commercial agents to help them lease their offices whilst retaining careful control over their properties. Barclays are currently looking to sub-let 30,000sq ft of the estate and Lehman Brothers 120,000 sqft in South Quay, Docklands.
Despite these companies feeling the financial pressure to let their properties it is hoped that occupancy levels will see a boast with the new Bio-dome centre in the pipelines, as well as the proposed Wood Wharf development which we recently covered in an article published on 15th July entitled “Canary Wharf Offices May Be Getting New Neighbours”. The Biodome centre should prove an alluring option for companies planning a move to the popular business district with its impressive offering of exciting retail, ‘on the door –step’ train station and green gardens, making the usual hustle and bustle and grey scenery of city life a thing of the past for Canary Wharf occupants!
For further information on leasing opportunities in the Canary Wharf area please click here OR give us a call today on 01932 834 720 and let us find the perfect office for you!