Wood Wharf in 145,000 sq ft lettings double

By James Buckley - Wednesday, April 11, 2018 14:39

Canary Wharf Group has signed up its first tenants at Wood Wharf, with Ennismore and The Office Group (TOG) taking a combined 145,000 sq ft.

Ennismore, the developer and operator of unique hospitality properties around the world including The Hoxton and Gleneagles; and TOG, one of the UK’s largest providers of shared workspaces, are two of the fastest growing and creative companies in the UK.

They will reside in the distinctive red bricked building of 15 Water Street, designed by the one of Britain’s largest architectural firms, Allies and Morrison. The building will comprise over 180,000 sq ft and is scheduled to complete in Q2 of 2021.

Ennismore has agreed to lease c.100,000 sq ft on a 25-year contract, arranged over the ground floor and levels 4 to 9. This will house Ennismore’s newest brand, NoCo: a 312-room hotel with honest pricing, clever design, beautiful essentials and a focus on technology.

TOG has leased c.45,000 sq ft of the Water Street mixed-use building, arranged over ground and levels 10 to 13 on a 20-year contract.

Wood Wharf is currently under construction by Canary Wharf Group, with the first phase of buildings to be delivered in 2019 and 2020. With 2m sq ft of commercial space, it represents a major new destination for modern businesses.

The 5m sq ft development will include world-class cultural and educational centres and up to 3,600 residential homes, 380,000 sq ft of retail and leisure amenities, a two form primary school and medical facilities set in 3.6 hectares of interconnected open spaces; combining tree-lined high streets, dockside walkways, and running trails.

Richard Archer, Managing Director Offices at Canary Wharf Group said: “As part of our placemaking phase, we chose Ennismore and TOG because they epitomise the vision we have for Wood Wharf. We are specifically partnering with dynamic and forward thinking businesses like Ennismore and TOG so we can continue to attract a truly diverse range of occupiers. We are delighted to announce them as the first to sign leases with us at Wood Wharf."

“We’re incredibly excited to launch our new hotel brand NoCo as part of a new era of the Canary Wharf estate” said Sharan Pasricha, CEO of Ennismore, “Wood Wharf provides a location that matches with our mission to create an affordable hotel that will embrace technology, great value, and stylish design, as well as provide an open space to the new tenants of the estate.

Charlie Green, Co-CEO, The Office Group stated: “The conventional market in and around Canary Wharf has a huge volume of traditional office space. When you have that level of concentration, it tends to follow that the need for flexible and shared space is strong. So we’ve been looking for the right building for some time. With Wood Wharf, we’ve found the right building. We’re delighted to be sharing the building with Ennismore. I think we sit really well with a hotel, and their branding and design skills are outstanding. We’re working very closely with them and CWG to create a landmark building for the Estate.”

jbuckley@costar.co.uk

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