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CANARY WHARF GROUP PLC is a British property company headquartered in London
London
, England
England
. It is the owner and developer of nearly 100 acres (0.40 km2) of property at Canary Wharf
Canary Wharf
and elsewhere in London. Over the last 10 years it has constructed more office space in London
London
than any other developer. The group owns 7,900,000 square feet (730,000 m2) of property which is worth £4.9 billion, of which 95.6% was let as of 30 June 2012.

CONTENTS

* 1 History * 2 Structure * 3 Relationship with TfL * 4 Property portfolio * 5 See also * 6 References * 7 External links

HISTORY

The company was formed in 1993 as Canary Wharf
Canary Wharf
Limited to acquire the former assets of Olympia and York from its Administrator.

In December 1995, the company was acquired by an international consortium, including Olympia and York founder Paul Reichmann .

In April 1999, the company floated on the London
London
Stock Exchange .

In 2004, a majority of the company was acquired by Glick Family Investments and Morgan Stanley using an investment vehicle company called Songbird Acquisitions, which was later taken over by China Investment Corporation .

STRUCTURE

The group owns Canary Wharf
Canary Wharf
Contractors, a business which has built most of the buildings at Canary Wharf
Canary Wharf
.

RELATIONSHIP WITH TFL

Several large transport projects have been constructed which link to Canary Wharf
Canary Wharf
, including the Jubilee Line Extension and Crossrail
Crossrail
.

The Canary Wharf
Canary Wharf
Group agreed to pay £500m over 24 years towards the £3.5bn cost of the Jubilee Line extension. The actual payments was reduced by at least £25m because the line was unable to run at the capacity agreed, mostly due to the collapse of Metronet .

The links between Canary Wharf
Canary Wharf
Group and Transport for London
London
remain strong, with Canary Wharf's Finance Director Peter Anderson on the board of TfL and chairing its finance and policy committee.

In 2014, the Canary Wharf
Canary Wharf
Group campaigned against two Cycle Superhighway routes in central London, dubbed " Crossrail
Crossrail
for bikes". The Group anonymously distributed a briefing paper claiming the project would be "extremely damaging to London".

PROPERTY PORTFOLIO

Notable property addresses are:

PROPERTY ADDRESS SQ FT LEASED (2008) VALUE (2008)

One Canada Square
One Canada Square
1,236,200 99% £688m

25–30 Bank Street 1,023,300 99% £410m

One Churchill Place 1,014,400 100% £630m

10 Upper Bank Street 1,000,400 100% £645m

All others 3,620,500 99% £2,110m

Outside Canary Wharf
Canary Wharf
itself, CWG also developed 20 Fenchurch Street and is redeveloping the Shell Centre site in central London.

SEE ALSO

* Paul Reichmann

REFERENCES

* ^ Canary Wharf
Canary Wharf
Group website: Investor Relations * ^ Canary Wharf
Canary Wharf
Group website: Company Overview * ^ Canary Wharf
Canary Wharf
Group website: History Archived 3 December 2007 at the Wayback Machine . * ^ "About Us: 1995". Canary Wharf
Canary Wharf
Group. Archived from the original on 4 May 2013. * ^ "About Us: 1999". Canary Wharf
Canary Wharf
Group. Archived from the original on 27 June 2014. * ^ "U.K.\'s Canary Wharf
Canary Wharf
Agrees To Morgan Stanley-Glick Bid". Wall Street Journal. 5 December 2003. * ^ McDonough, Tony. "Investment floods into UK; Overseas buyers put billions into property". Daily Post. Liverpool. Retrieved 22 October 2014. * ^ Ruddick, Graham (28 August 2009). "China invests in Canary Wharf with £880m bail-out of Songbird". The Telegraph. London. Retrieved 22 October 2014. * ^ Canary Wharf
Canary Wharf
Contractors on Emporis database * ^ Glover, John (2010). London's Underground (11th ed.). Ian Allen Publishing. p. 131. ISBN 9780711034297 . * ^ Sam-Daliri, Nadia (27 January 2012). "TfL pays £25m to Canary Wharf Group for Jubilee Line failures". The Docklands & East London Advertiser. Retrieved 22 October 2014. * ^ Hill, Dave (15 October 2014). "Cycle superhighways row: wheels within wheels". The Guardian. Manchester. Retrieved 22 October 2014. * ^ Walker, Peter (10 October 2014). "Cyclists v lobbyists: gloves are off in the battle for London’s cycle lanes". The Guardian. Manchester. Retrieved 22 October 2014.

EXTERNAL