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Commercial Property News
Canary Wharf Group acquires 1 Park Place
The Canary Wharf Group (CWG) has invested £17.5 million in a commercial property site in the heart of Canary Wharf.
CWG purchased 1 Park Place – which is located on 0.87 acres of land - from Park Place SARL.
It currently has no plans for development of the site but chief executive George Iacobescu said the deal was an "excellent opportunity" to expand business property found on the Canary Wharf Estate.
"With an improving economy, transport enhancements and further regeneration elsewhere in east London, Canary Wharf sites such as 1 Park Place will become increasingly attractive to potential tenants," he remarked.
The site can be found between two buildings presently occupied by Morgan Stanley and Tubelines and currently benefits from two planning consents measuring 1.2 million sq ft and 214,000 sq ft.
CWG also announced a number of lettings to both new and existing tenants at its 1 Canada Square and 40 Bank Street addresses, with the Financial Services Authority among those to sign leases.
CWG purchased 1 Park Place – which is located on 0.87 acres of land - from Park Place SARL.
It currently has no plans for development of the site but chief executive George Iacobescu said the deal was an "excellent opportunity" to expand business property found on the Canary Wharf Estate.
"With an improving economy, transport enhancements and further regeneration elsewhere in east London, Canary Wharf sites such as 1 Park Place will become increasingly attractive to potential tenants," he remarked.
The site can be found between two buildings presently occupied by Morgan Stanley and Tubelines and currently benefits from two planning consents measuring 1.2 million sq ft and 214,000 sq ft.
CWG also announced a number of lettings to both new and existing tenants at its 1 Canada Square and 40 Bank Street addresses, with the Financial Services Authority among those to sign leases.
Mon, 18th Jan 2010