Canary Wharf Group (CWG) said it was aiming to inject a new lease of life into the district. What changes would you like to see?
The property developer behind Canary Wharf says it is forging a "new purpose" and diversifying in other sectors as some banks move out.
According to property information provider CoStar, office vacancy rates at Canary Wharf hit 14.8% in the second quarter of this year, a level not seen for nearly 20 years when the area was expanded. That being said, not all financial companies are leaving with Citi bank saying it was committed to remaining there "for the next 30 years" at least and was currently undergoing a complete refurbishment of its flagship international office.Even so, with more people working from home, CWG said it was aiming to inject a new lease of life into the district.
A residential estate, Wood Wharf to the east of the main set of skyscrapers on the site, is also in the third phase of a development which when complete will have 3,600 flats, retail spaces, bars and restaurants, a new school, a doctors' surgery and nine acres of public space.Life sciences industries and residents are set to move in, as some banks move out
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