According to an article in the Financial Times last week, Canary Wharf is set to host Europe’s tallest residential building.
The project is founded by Irish property investor “Tom Ryan”, who intends to build the £1bn, 74-storey skyscraper on the site he acquired for £100m. The tower is set to be some 7 meters higher than Canary Wharf’s tallest office building and the acquisition is the first in what sources say will be a series of UK property investments by Mr Ryan.
Joel Brookes, Vanet’s Director comments on this matter:
“Although this is clearly a project of enormous proportions, in reality this is one of a long stream of major residential developments that add to the Canary Wharf skyline.
From an agency point of view, what we find particularly encouraging is the additional commercial development and acquisition which is taking place alongside these residential projects. As an example of this, JP Morgan relocated its EMEA headquarters last year to 25 Bank Street in Canary Wharf. It is expected that over time this facility will house all of JP Morgan’s 11,000 UK employees.”