Until now Canary Wharf had only been permitted to contain 14 million sf of offices, and this week's confirmation that Barclays bank is to take one million sf pushed it right up against this limit. Under the new agreement a further 1.7 million sf can be built on the existing site, although earlier this year Canary Wharf called a halt to speculative development.
In addition, the Canary Wharf Group has bought two major sites adjoining the original estate at Canary Riverside and North Quay. These are not affected by the BWB deal, but are still the subject of separate planning applications. British Waterways Board has also put more land to the east of Canary Wharf up for sale, but no deal has yet been agreed.
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