Canary Wharf is the secondary central business district (CBD) of London on the Isle of Dogs. Along with the City of London, it is one of the main financial centres of the United Kingdom and the world, containing many of their tallest buildings, including the second-tallest in the UK, One Canada Square.[1][2]
Canary Wharf is 97 acres (39 hectares) and contains around 16,000,000 square feet (1,500,000 m2) of office and retail space. It comprises many open areas, including Canada Square, Cabot Square and Westferry Circus. Together with Heron Quays and Wood Wharf, it forms the Canary Wharf Estate.
Canary Wharf is located on the West India Docks on the Isle of Dogs.
West India Dock Company
From 1802 to the late 1980s, what would become the Canary Wharf Estate was a part of the Isle of Dogs (Millwall), Limehouse and Poplar and was one of the busiest docks in the world. After the 1960s, the port industry began to decline, leading to all the docks being closed by 1980.[3][4] West India Docks was primarily developed by Robert Milligan (c. 1746–1809) who set up the West India Dock Company.
Port of London Authority
West India Dock was by this time owned by the Port of London Authority in 1909. Canary Wharf itself takes its name from No. 32 berth of the West Wood Quay of the Import Dock. This was built in 1936 for Fruit Lines Ltd, a subsidiary of Fred Olsen Lines for the Mediterranean and Canary Islands fruit trade. The Canary islands were so named after the large dogs found there by the Spanish (Gran Canaria from Canine) and as it is located on the Isle of Dogs, the quay and warehouse were given the name Canary Wharf.[5]
London Docklands Development Corporation
After the docks closed in 1980, the British Government adopted policies to stimulate redevelopment of the area, including the creation of the London Docklands Development Corporation (LDDC) in 1981 and the granting of Urban Enterprise Zone status to the Isle of Dogs in 1982.[4]
The Canary Wharf of today began when Michael von Clemm, former chairman of Credit Suisse First Boston (CSFB), came up with the idea to convert Canary Wharf into a back office. Further discussions with G Ware Travelstead led to proposals for a new business district and included the LDDC developing a cheap light metro scheme, called the Docklands Light Railway to make use a large amount of redundant railway infrastructure and to improve access.
The project was sold to the Canadian company Olympia & York[6] and construction began in 1988, master-planned by Skidmore, Owings & Merrill with Yorke Rosenberg Mardall as their UK advisors, and subsequently by Koetter Kim. The first buildings were completed in 1991, including 1 Canada Square, which became the UK's tallest building at the time and a symbol of the regeneration of Docklands. By the time it opened, the London commercial property market had collapsed, and Olympia and York Canary Wharf Limited filed for bankruptcy in May 1992.
Initially, the City of London saw Canary Wharf as an existential threat. It modified its planning laws to expand the provision of new offices in the City of London, for example, creating offices above railway stations (Blackfriars) and roads (Alban Gate). The resulting oversupply of office space contributed to the failure of the Canary Wharf project.
Canary Wharf Group
In Oct. 1995, an international consortium that included investors such as Alwaleed, bought control for $1.2 billion. Paul Reichmann was named chairman, and Canary Wharf went public in 1999.[7] The new company was called Canary Wharf Limited, and later became Canary Wharf Group.
In 1997, some residents living on the Isle of Dogs launched a lawsuit against Canary Wharf Ltd for private nuisance because the tower interfered with TV signals. The residents lost the case.[8]
Recovery in the property market generally, coupled with continuing demand for large floorplate Grade A office space, slowly improved the level of interest. A critical event in the recovery was the much-delayed start of work on the Jubilee Line Extension, which the government wanted ready for the Millennium celebrations.
In March 2004, Canary Wharf Group plc. was taken over by a consortium of investors, backed by its largest shareholder Glick Family Investments[9] and led by Morgan Stanley using a vehicle named Songbird Estates plc.
Corporations and agencies
Canary Wharf contains around 16,000,000 square feet (1,500,000 m2) of office and retail space, of which around 7,900,000 square feet (730,000 m2) (about 49%) is owned by Canary Wharf Group.[20] Around 105,000 people work in Canary Wharf,[21] and it is home to the world or European headquarters of numerous major banks, professional services firms, and media organisations, including Barclays, Citigroup, Clifford Chance, Credit Suisse, EY, Fitch Ratings, HSBC, Infosys, JPMorgan Chase, KPMG, MetLife, Moody's, Morgan Stanley, RBC, Deutsche Bank, S&P Global, Skadden, State Street, The Economist Group and Thomson Reuters,[22]. Until 2018 Canary Wharf also hosted two European Union agencies, European Medicines Agency[23] and European Banking Authority[24], that moved to Amsterdam and Paris respectively due to Brexit.
Leisure
Marina
West India Quays and Poplar Dock are two marinas that are used as moorings for barges and private leisure river crafts and is owned by the Canal & River Trust.[25][26]
Library
A local public library, called Idea Store Canary Wharf, is in Churchill Place shopping mall and run by Tower Hamlets Council which opened on Thursday 16 March 2006 as part of the Idea Store project[27] and is the borough fourth Idea Store.[28]
Cinema
Canary Wharf hosts two multiplexes (cinemas), one on West India Quay run by Cineworld.[29][30] and another at Crossrail Place called Everyman Cinema.[31]
Areas
Canada Square
Canada Square is one of the central squares at Canary Wharf. It is a large open space with grass, except during the winter when it is converted into an ice rink. The square is named after Canada, because the original developers of modern Canary Wharf, Olympia & York, wanted to reflect their heritage. Underneath the square is Canada Place shopping mall.
Westferry Circus
Westferry Circus is on the west side of Canary Wharf. It is a garden at ground level, and below is a roundabout allowing traffic to flow through. The garden is enclosed by bespoke hand-crafted ornamental railings and entrance gates by artist Giuseppe Lund. The area has a long history, dating back to 1812, when the Poplar and Greenwich Roads Company operated a horse ferry between Greenwich and the Isle of Dogs. It operated on the West Ferry and East Ferry Roads, which the names survived. Westferry Circus was chosen as the name for the roundabout and park by virtue of its proximity to Westferry Road.
Cabot Square
Cabot Square is one of the biggest squares at Canary Wharf, with a large fountain at the centre. The inner perimeter has additional fountains covered by trees. The square has large circular glass ventilation holes to allow gases to escape from the underneath car park. The square is named after John Cabot and his son Sebastian, who were Italian explorers who settled in England in 1484.
Churchill Place
Churchill Place is an area on the east side of Canary Wharf. It is named after Winston Churchill.
Columbus Courtyard
A small square on the west side of Canary Wharf. Named after Christopher Columbus who was the Italian navigator who discovered America. The first phase of Canary Wharf was completed in 1992, 500 years after Columbus' discovery and was a tribute to his achievements.
Chancellor Passage
A passageway south of Cabot Square. Named after Richard Chancellor who sailed with Sir John Willoughby from Greenwich on their voyage through the White Sea to Moscow.
Wren Landing
Small area north of Cabot Square. Leads to North Dock footbridge towards Port East. Named after British architect Christopher Wren
Canary Wharf is 97 acres (39 hectares) and contains around 16,000,000 square feet (1,500,000 m2) of office and retail space. It comprises many open areas, including Canada Square, Cabot Square and Westferry Circus. Together with Heron Quays and Wood Wharf, it forms the Canary Wharf Estate.
Canary Wharf is located on the West India Docks on the Isle of Dogs.
West India Dock Company
From 1802 to the late 1980s, what would become the Canary Wharf Estate was a part of the Isle of Dogs (Millwall), Limehouse and Poplar and was one of the busiest docks in the world. After the 1960s, the port industry began to decline, leading to all the docks being closed by 1980.[3][4] West India Docks was primarily developed by Robert Milligan (c. 1746–1809) who set up the West India Dock Company.
Port of London Authority
West India Dock was by this time owned by the Port of London Authority in 1909. Canary Wharf itself takes its name from No. 32 berth of the West Wood Quay of the Import Dock. This was built in 1936 for Fruit Lines Ltd, a subsidiary of Fred Olsen Lines for the Mediterranean and Canary Islands fruit trade. The Canary islands were so named after the large dogs found there by the Spanish (Gran Canaria from Canine) and as it is located on the Isle of Dogs, the quay and warehouse were given the name Canary Wharf.[5]
London Docklands Development Corporation
After the docks closed in 1980, the British Government adopted policies to stimulate redevelopment of the area, including the creation of the London Docklands Development Corporation (LDDC) in 1981 and the granting of Urban Enterprise Zone status to the Isle of Dogs in 1982.[4]
The Canary Wharf of today began when Michael von Clemm, former chairman of Credit Suisse First Boston (CSFB), came up with the idea to convert Canary Wharf into a back office. Further discussions with G Ware Travelstead led to proposals for a new business district and included the LDDC developing a cheap light metro scheme, called the Docklands Light Railway to make use a large amount of redundant railway infrastructure and to improve access.
The project was sold to the Canadian company Olympia & York[6] and construction began in 1988, master-planned by Skidmore, Owings & Merrill with Yorke Rosenberg Mardall as their UK advisors, and subsequently by Koetter Kim. The first buildings were completed in 1991, including 1 Canada Square, which became the UK's tallest building at the time and a symbol of the regeneration of Docklands. By the time it opened, the London commercial property market had collapsed, and Olympia and York Canary Wharf Limited filed for bankruptcy in May 1992.
Initially, the City of London saw Canary Wharf as an existential threat. It modified its planning laws to expand the provision of new offices in the City of London, for example, creating offices above railway stations (Blackfriars) and roads (Alban Gate). The resulting oversupply of office space contributed to the failure of the Canary Wharf project.
Canary Wharf Group
In Oct. 1995, an international consortium that included investors such as Alwaleed, bought control for $1.2 billion. Paul Reichmann was named chairman, and Canary Wharf went public in 1999.[7] The new company was called Canary Wharf Limited, and later became Canary Wharf Group.
In 1997, some residents living on the Isle of Dogs launched a lawsuit against Canary Wharf Ltd for private nuisance because the tower interfered with TV signals. The residents lost the case.[8]
Recovery in the property market generally, coupled with continuing demand for large floorplate Grade A office space, slowly improved the level of interest. A critical event in the recovery was the much-delayed start of work on the Jubilee Line Extension, which the government wanted ready for the Millennium celebrations.
In March 2004, Canary Wharf Group plc. was taken over by a consortium of investors, backed by its largest shareholder Glick Family Investments[9] and led by Morgan Stanley using a vehicle named Songbird Estates plc.
Corporations and agencies
Canary Wharf contains around 16,000,000 square feet (1,500,000 m2) of office and retail space, of which around 7,900,000 square feet (730,000 m2) (about 49%) is owned by Canary Wharf Group.[20] Around 105,000 people work in Canary Wharf,[21] and it is home to the world or European headquarters of numerous major banks, professional services firms, and media organisations, including Barclays, Citigroup, Clifford Chance, Credit Suisse, EY, Fitch Ratings, HSBC, Infosys, JPMorgan Chase, KPMG, MetLife, Moody's, Morgan Stanley, RBC, Deutsche Bank, S&P Global, Skadden, State Street, The Economist Group and Thomson Reuters,[22]. Until 2018 Canary Wharf also hosted two European Union agencies, European Medicines Agency[23] and European Banking Authority[24], that moved to Amsterdam and Paris respectively due to Brexit.
Leisure
Marina
West India Quays and Poplar Dock are two marinas that are used as moorings for barges and private leisure river crafts and is owned by the Canal & River Trust.[25][26]
Library
A local public library, called Idea Store Canary Wharf, is in Churchill Place shopping mall and run by Tower Hamlets Council which opened on Thursday 16 March 2006 as part of the Idea Store project[27] and is the borough fourth Idea Store.[28]
Cinema
Canary Wharf hosts two multiplexes (cinemas), one on West India Quay run by Cineworld.[29][30] and another at Crossrail Place called Everyman Cinema.[31]
Areas
Canada Square
Canada Square is one of the central squares at Canary Wharf. It is a large open space with grass, except during the winter when it is converted into an ice rink. The square is named after Canada, because the original developers of modern Canary Wharf, Olympia & York, wanted to reflect their heritage. Underneath the square is Canada Place shopping mall.
Westferry Circus
Westferry Circus is on the west side of Canary Wharf. It is a garden at ground level, and below is a roundabout allowing traffic to flow through. The garden is enclosed by bespoke hand-crafted ornamental railings and entrance gates by artist Giuseppe Lund. The area has a long history, dating back to 1812, when the Poplar and Greenwich Roads Company operated a horse ferry between Greenwich and the Isle of Dogs. It operated on the West Ferry and East Ferry Roads, which the names survived. Westferry Circus was chosen as the name for the roundabout and park by virtue of its proximity to Westferry Road.
Cabot Square
Cabot Square is one of the biggest squares at Canary Wharf, with a large fountain at the centre. The inner perimeter has additional fountains covered by trees. The square has large circular glass ventilation holes to allow gases to escape from the underneath car park. The square is named after John Cabot and his son Sebastian, who were Italian explorers who settled in England in 1484.
Churchill Place
Churchill Place is an area on the east side of Canary Wharf. It is named after Winston Churchill.
Columbus Courtyard
A small square on the west side of Canary Wharf. Named after Christopher Columbus who was the Italian navigator who discovered America. The first phase of Canary Wharf was completed in 1992, 500 years after Columbus' discovery and was a tribute to his achievements.
Chancellor Passage
A passageway south of Cabot Square. Named after Richard Chancellor who sailed with Sir John Willoughby from Greenwich on their voyage through the White Sea to Moscow.
Wren Landing
Small area north of Cabot Square. Leads to North Dock footbridge towards Port East. Named after British architect Christopher Wren
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