The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Canary Wharf Shareholders Invest £400m for ‘Strategic Repositioning’ Plans

Canary Wharf Shareholders Invest £400m for ‘Strategic Repositioning’ Plans
30 October 2023

Brookfield and the Qatar Investment Authority, which own Canary Wharf Group, have committed to invest £400 million to help complete “the strategic repositioning of Canary Wharf.”

This includes £300 million in equity and an additional £100 million revolving credit facility.

A statement from Canary Wharf Group (CWG) says that the money will be used to “build out additional residential and life sciences projects on the estate”. The company has plans to grow its current life sciences community, including a new building at their North Quay site, adjacent to the new Elizabeth Line at Canary Wharf.

CWG’s new focus on life sciences and residential projects is thought to be partly in response to high-profile tenants such as HSBC and Credit Suisse’s plans to leave the area.

Shobi Khan, CEO, CWG, said: “This investment underscores confidence in our business plan and the ongoing strategic repositioning of Canary Wharf. We have transformed the estate into a thriving, sustainable mixed-use neighbourhood with award-winning homes, an abundance of amenities and parks, a strong and unique retail offer, and a diverse office portfolio with an expanding life sciences offer. We are confident of the opportunities ahead.”

Brian Kingston, CEO, Brookfield Real Estate, added: “Canary Wharf continues to evolve into a vibrant and diverse estate well-positioned to meet the needs of the future. As a long-term, patient investor with flexible balance sheet capital and half a century of transitioning mixed-use assets into iconic urban districts, we are pleased to continue to support CWG on its journey alongside our partners, and believe the estate holds significant long-term value creation potential.”

Picture: a photograph of some buildings at Canary Wharf. Image Credit: Unsplash

Article written by Ella Tansley | Published 30 October 2023


Related Articles

High Performing Buildings – July’s Roundup  

ThisWeekinFM’s high-performing buildings roundup includes new plans for the Square Mile’s third tallest tower, a new life sciences building at Canary Wharf...

 Read Full Article
Morgan Stanley Signs Ten Year Lease for Canary Wharf HQ

Morgan Stanley has signed a new lease to retain its Canary Wharf UK headquarters until 2038. The bank has occupied the 547,000 sq ft EMEA office at 20 Bank Street for...

 Read Full Article
Plans Approved for New Natural History Museum Site

Wokingham Borough Council has approved plans for a new 25,000m² flagship site to house Natural History Museum collections. A purpose-built facility at Thames...

 Read Full Article
British Land and Royal London Form Joint Venture to Operate 1 Triton Square

British Land has sold 50 per cent of its stake in 1 Triton Square at Regents Place to Royal London Asset Management Property. The companies have formed a joint...

 Read Full Article
British Land Reveals Euston Tower Plans to Become Life Sciences Hub

British Land has unveiled plans to transform London’s Euston Tower into a life sciences and innovation hub. The building is set to become a modern, net-zero...

 Read Full Article
Administrators Appointed for Canary Wharf’s 5 Churchill Place

FTI Consulting has been appointed joint administrator of 5 Churchill Place Management Company. The 313,000-square-foot, 12-storey office block was purchased for...

 Read Full Article
HSBC Considers New London HQ

Reports from The Sunday Times suggest that HSBC is looking to leave its global headquarters at 8 Canada Square in Canary Wharf. According to the British newspaper,...

 Read Full Article
Inside One Canada Square's Latest Renovation

University College London School of Management has moved to the penthouse level of One Canada Square, Canary Wharf. The heavily oversubscribed University College...

 Read Full Article
Will HSBC Leave its Iconic Canary Wharf Home?

Leaked memos suggest that the banking giant is considering whether to keep its global HQ at HSBC Tower when the lease expires in 2027. HSBC has occupied the 45-storey...

 Read Full Article
Extra Staircase Added to Cuba Street Tower

New plans for Cuba Street Tower near Canary Wharf now feature a second additional staircase. The Architect’s Journal has revealed that Morris+Company...

 Read Full Article