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The reinvention of Canary Wharf
Jack Sidders and Olivia Konotey-Ahulu
May 25, 2021 â 1.38pm
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London| A splashy science campus is set to rise on a site once tagged for Deutsche Bankâs London headquarters. A construction blitz of luxury apartments is aiming to spawn a thriving neighbourhood in place of a weekend ghost town.
As Canary Wharf emerges from the pandemic, the financial hubâs stab at reinvention is accelerating.
For three decades, its steel and glass towers have been synonymous with finance, the buildings topped with the names of global banking giants. But behind the gleaming facade, the 52-hectare managed estate has changed.
After the UK approached a tariff-free agreement with Australia, senior managers in the City of London raised concerns about the environmental impact of
The Reinvention of Canary Wharf
May 20 2021, 4:21 PM
May 20 2021, 9:30 AM
May 20 2021, 4:21 PM
(Bloomberg) A splashy science campus is set to rise on a site once tagged for Deutsche Bank AG s London headquarters. A construction blitz of luxury apartments is aiming to spawn a thriving neighborhood in place of a weekend ghost town.
(Bloomberg) A splashy science campus is set to rise on a site once tagged for Deutsche Bank AG s London headquarters. A construction blitz of luxury apartments is aiming to spawn a thriving neighborhood in place of a weekend ghost town.
As Canary Wharf emerges from the pandemic, the financial hubâs stab at reinvention is accelerating.
Getty Images / WIRED
Thirteen years ago, Lehman Brothers almost killed Canary Wharf. When the financial giant collapsed at the height of the financial crisis, it was a major blow to the area. The US bank, which had signed a 30-year lease for over a million square feet in a 33-storey tower, vacated the building on September 15, 2008 after filing for bankruptcy protection in New York.
At the macro level the impact was huge. The building’s owner – the Canary Wharf Group, which owns and develops most of the Canary Wharf Estate – was left massively out of pocket, finally receiving a $350 million settlement from Lehman’s liquidators in 2014. At the micro level the overnight loss of 4,000 big-money employees had an immediate impact on the local economy too. “The champagne bars closed down and were replaced by chain restaurants,” recalls Jon Massey, the editor of local lifestyle publication