Porsche's new Wharf outlet defies financial storm

By John Hill on November 10, 2008 5:30 PM |

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HIGH-END car maker Porsche aims to weather the financial storm by adding a new showroom in Canary Wharf.

The Porsche City showroom is set to open at 20 Canada Square on November 21, and will act as a "satellite" to the company's outpost in Stratford.

The Wharf revealed Porsche's plans for the space back in June, and a planning application was approved by Tower Hamlets Council a month later.

BMW also boasts an outlet on the ground floor of 20 Canada Square, which is largely occupied by BP and McGraw-Hill.

Porsche's new 155 square metre home will provide space for two cars, as well as areas for consultation and discreet areas for transactions to take place.

As well as catering for new purchasers, showroom staff will also provide existing owners with advice and assistance on repairs, maintenance and services.

The German company has been planning to park up in Canary Wharf for a while, but it arrives at a time when many Londoners are more inclined to tighten their belts than to rev their engines.

However, Porsche Great Britain spokesman Nick Perry claims the company is upbeat about its prospects.

He said: "This is something we've had in mind for a long time, and it's coming to fruition now. We have great confidence in it.
"Historically, there's a big customer base in the area.
"We're cautiously optimistic about the ongoing strength of the new car market. It's currently a tough time for everybody, but we're launching some very competitive new cars."