Canary Wharf To Build Riverside South in 2007

Having previously touched on the chances of Canary Wharf building Riverside South and the preparation works the site requires it's been confirmed that the property group, owned by Songbird, will be starting construction in 2007 even though they do not yet have a pre-let of the buildings.

Canary Wharf informed the local council, the London Borough of Tower Hamlets last week of their intention to start constructing the scheme in 2007 whilst local residents in the Berkeley Tower and other buildings in Canary Wharf Riverside have also been notified of the impending works.

The building contractor, Canary Wharf Contractors who are owned by Canary Wharf, has started to recruit new staff for the scheme as it will naturally require hundreds of extra builders, engineers and so on.

Work on the twin tower scheme is due to start on the scheme early next year after the marquee put up on site over Christmas to cater for corporate parties has been dismantled.

This marks the first time since 2002 that a skyscraper, will be starting at Canary Wharf - the last one was the Barclays Bank headquarters. The design of the buildings does however make it possible to build one tower first, then the middle building followed by the other tower after it. It's unsure which one will start first or if both will be built at the same time, a more risky venture when the size of the project is taken into account.

Once finished the 214 and 189 metre tall buildings will be the second and fifth tallest on the estate. They are also the first true skyscrapers designed by Richard Rogers in his home town.

Delivery of the scheme should help keep the Wharf up there in the floor-space stakes as they currently are confronted with the problem of fulfilling future demand. With the City of London also finally building skyscrapers this property cycle is not an unchallenged home-run like the last one was.

The massive amount of floor-space on offer will go someway towards keeping them ahead and providing all those planned towers in the City of London with competition. As one wag pointed out they look rather like two fingers sticking up at the City.
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