Plans see Canary Wharf turn to creative industries

There are plans to see 20-acre site Wood Wharf, adjacent to the main Canary Wharf site, tap into demand from "creative industries", said Songbird Estates, the majority owner of Canary Wharf Group, in its results. Company secretary John Garwood:

We have the space to cater for these different types of companies. In Shoreditch there is not a lot of spare space.

Investec's John Cahill:

The residential element of Wood Wharf makes perfect sense given strong demand and rising prices in central London. But you'd have thought technology and media companies would prefer the West End. I can't see it being a driver for Songbird in the way it will be for Great Portland, Derwent London and Workspace.