Canary Wharf Group is exploring plans for a 60-storey build-to-rent skyscraper to replace a 1m sq ft office development at the long-awaited 1 Park Place, E14.
The developer is consulting over plans for 700 flats over two buildings, including a smaller six-storey block, with 80,730 sq ft of retail, co-working and leisure.
The proposals would replace a previous office consent and come over a decade after the initial acquisition of the 1.2-acre Isle of Dogs site.
CWG purchased the site out of receivership, paying £17.5m in 2010. It is located between offices occupied by Morgan Stanley at 25 Cabot Square, E14, and Tube Lines at 15 Westferry Circus, E14.
At the time, chief executive George Iacobescu described the scheme as having “strategic and commercial value” responding to the “relative lack of prime office space”.
In 2016, CWG gained detailed consent for a 32-storey office scheme of over 1m sq ft, designed by Squire & Partners. The developer has since commenced groundworks and made minor amendments to the previous consent.
CWG is now proposing final clearance of the site to make way for a large build-to-rent scheme. Initial plans include 33,000 sq ft of open space, play space and recreational space at the car-free scheme.
The plans follow a significant expansion of the group’s residential plans, as BTR investment demand heats up. Last July, CWG revised plans for its largest development site at North Quay. The plans include 1.6m sq ft of residential space and 1-2.5m sq ft of office space, to replace 2017 plans.
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
