|This article needs additional citations for verification. (November 2013)|
Artist's impression of how the Wood Wharf development may look upon completion.
|Location||Isle of Dogs|
|Town or city||London|
|Landlord||Canary Wharf Group|
The site today
The Canal & River Trust is the freeholder of the main 20 acres (81,000 m2) site following the transfer of all the assets of British Waterways in 2012. British Waterways had previously acquired the site from the Port of London. Canary Wharf Group plc purchased a 250 year lease for the site in January 2012.
In 2003 British Waterways issued a masterplan for a substantial, mixed used redevelopment of the site. The masterplan indicated a potential development size of 330,000 square metres (3,600,000 sq ft) commercial floorspace (offices, retail and restaurants), 120,000 square metres (1,300,000 sq ft) of residential use (approximately 1,500 units) and 10,000 square metres (110,000 sq ft) of hotel and services apartments. The masterplan has been adopted by Tower Hamlets as interim guidance to support the current local plan.
During 2004 British Waterways held a competition to select a development partner for the project. In 2005 a consortium of British Waterways, Canary Wharf Group and Ballymore Properties established the Wood Wharf Partnership to develop the scheme with Berwin Leighton Paisner as legal advisors.
In November 2007, a new master plan was unveiled, by Rogers Stirk Harbour + Partners.. Outline planning was submitted to Tower Hamlets in July 2008 and were approved in October 2008. The official Wood Wharf website was updated. The new master plan shows considerably higher density, as well as more towers, which are also taller than the previous ones. The next step is to find different architects to design each individual building. The developers want at least one iconic residential, and one iconic office tower as part of the project.
The new master plan also contains a high street, which will run up the middle of the site. This will host bars, shops, cafés and restaurants. This will be covered by a glass snake-skin type roof. A planning application was filed on 30 June 2008. The Section 106 contribution of £150 million (£100 million towards the Crossrail project alone) is one of the largest ever made in London. On 8 October 2008, Tower Hamlets Strategic Development Committee voted unanimously to grant approval for the application.
Canary Wharf Group, which is a 25% partner in Wood Wharf project, does not wish to proceed with the scheme until it has completed and let all of the office projects on and around the original Canary Wharf Estate, including Riverside South, North Quay, Heron Quays West, and 25 Bank Street.
In January 2012 Canary Wharf Group took 100% control of the project by paying British Waterways £52.5m for their 50% stake and Ballymore £38m for their 25% stake. Under the agreement Canary Wharf Group has been a granted a new 250 year lease from British Waterways with ground rent payable which will grow to £6m per annum.
In January 2013 Herzog & de Meuron, Allies and Morrison and Stanton Williams were appointed as architects for various elements of the scheme. In December 2013 a new masterplan was submitted to Tower Hamlets by Canary Wharf Group, which placed greater emphases on residential uses compared to the previous plans.
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