Canary Wharf Contractors is preparing to start work next year on the second phase of the vast Wood Wharf scheme in London Docklands.
The group is pressing ahead with the 700,000 sq ft next major phase despite concerns about Brexit and softening of the residential apartment market in the capital.
The next phase of its Docklands scheme will consist of seven buildings of which 390,000 sq ft will be offices, 165,000 sq ft residential and 235,000 sq ft retail and leisure use.
Design consultants have been appointed and design and town planning work is in progresses with construction of the first buildings expected to start next year.
The firm also confirmed it is to start work on the 15 Water Street commercial project before the end of the year after securing a leasing deal with a hotel group and occupier for the office component.
This phase one Wood Wharf project will unusually for the scheme have a red brick envelope. It will comprise over 180,000 sq ft with a 312-room hotel on the lower floors and offices above.
The project designed by Allies and Morrison is scheduled to complete in Q2 of 2021.
Work is due to complete on 10 Park Drive, a 345-flat residential tower block at the end of next year.
Two further buildings for rental are also now under construction, while One Park Drive – a 58-storey Herzog & de Meuron design cyclindrical tower – will be completed in late 2020.
[Ref: constructionenquirer.com]
