Capital & Provident has received planning permission from Tower Hamlets council for a World Trade Centre to be developed in London’s Docklands.
The 185,805 sq m (2m sqft) scheme will be located south of Canary Wharf on Marsh Wall at South Quay station and will be developed as nine buildings in two phases.
The first phase, due to start by December, includes 111,483 sq m (1.2m sq ft) of offices in five buildings, plus shops and restaurants. Buildings will be marketed at £32.50 per sq ft (£349.84 per sq m).
Phase two comprises an extra 69,675 sq m (750,000 sq ft) of commercial and 5,574 sq m (60,000 sq ft) of retail. Planning permission will be granted but work is not expected to start for six years.
Posthouse Premier has prelet a 400-bedroom hotel which includes restaurants, conference facilities, a health club and 94 apartments. It is expected to open in 2002.
Sunny Crouch, managing director of World Trade Centre London, said: “With vacancy rates across Docklands at just 2.9%, below both the West End and the City, companies taking space here will be able to have their own front door from around 75,000 sq ft, at very competitive prices.”
The project is the anchor development of Tower Hamlets millennium quarter masterplan.
BH2 and Chesterton are joint letting agents for the scheme.
EGi News 03/10/00
