Rent profits up as Wharf tops 100,000 workers

By Rob Virtue on September 14, 2012 12:19 PM |


Rental income for Canary Wharf Group has gone up year on year thanks mainly to a lease extension by Bank of New York Melon in One Canada Square.

The company announced in its six-month results on Friday that income in this area had increased from £124.6million in the first half of last year to £130.3m this year.

Meanwhile, the company said construction of developments such as 25 Churchill Place, the Crossrail station and the Jubilee Place mall extension are running to plan.

The report said there was nine of the 29 units at the Jubilee mall extension and 40 per cent of the Crossrail units had found tenants. Shops at Jubilee Place are expected to open in November next year.

Offices at 25 Churchill Place, which is to be the base of the European Medicines Agency, will be completed in the middle of 2014.

Canary Wharf Group also revealed it was aiming to submit a new proposal for One Park Place and was looking at building residential property on sites at Heron Quay West and Newfoundland.

Meanwhile, announced the working population of Canary Wharf had topped 100,000 this summer for the first time.