Plans to develop Canary Wharf into London’s largest tech and creative cluster were unveiled today, with the business district looking to attract fast-growth firms in a bid to create 20,000 new jobs.
A new 23-acre quarter named Wood Wharf is looking to lure in “a larger number of tech jobs than in the entire city of Cambridge,” according to Canary Wharf Group.
Two million square feet of the 5m square feet mixed-use project, situated on the Isle of Dogs to the east of the present skyscrapers, will be dedicated to firms as part of a new masterplan for the waterside area.
The area of urban regeneration will also feature 3,600 new homes.
It is overseen by Canary Wharf Group (CWG), owned by the Qatar Investment Authority (QIA), the country's sovereign wealth fund.
“London’s tech sector has grown at an extraordinary rate over the past five years,” said Jacqueline de Rojas, President of techUK. “The city needs infrastructure to accommodate this rapid expansion and Wood Wharf seems the perfect environment for start-ups and scale-ups with global ambitions.”
Among the big-name tenants already set to come under Wood Wharf’s roof is Ennismore, the owner of The Hoxton Hotels group and The Office Group, which will take over 180,000 sq. ft in total.