British Waterways is seeking a development partner for a £2bn mixed-use scheme at Wood Wharf, a vacant 20-acre site next to Canary Wharf.
The proposed development would provide 3.5m sq ft of office, retail and restaurant space, around 1,500 new homes and a 108,000 sq ft hotel. Buildings will range from five storeys for the residential space to 35 storeys for the commercial space.
The masterplan, which has recently been adopted by Tower Hamlets Council, also envisages the creation of a new canal bisecting the site and a public garden.
British Waterways owns the freehold to Wood Wharf and is expected to take an active role in its development. It is also likely to retain a substantial share of the ownership and control of the project, but the exact nature and structure of the partnership will be developed through the procurement process.
Robin Evans, Chief Executive of British Waterways, commented: “This is a unique opportunity to partner British Waterways in the development of one of the finest and largest waterside regeneration sites in the UK. Our vision is to create a world-class development which significantly contributes to London as a world city… We are seeking a partner of the highest calibre with the right experience in delivering major development projects, a high level of respect in the financial markets and the ability to work with us in partnership.”
The closing date for expressions of interest in the partnership is 15 March. Deloitte & Touche is acting for British Waterways.
Abstracted from: PR Wire