Canary Wharf development going ahead - commercial mortgages

31 March 2008

Phase two of the Canary Court development has been given the green light, in news which may be of interest to those seeking commercial mortgages.

The second stage of Oracle Residential''s scheme at the former Indescon Court site in Canary Wharf has received planning approval and will see the completion of two 32-storey towers, PropertyWeek.com reports.

Some 546 flats will be added as part of the £305 million project, as well as a hotel, leisure areas and retail space.

The entire site, when completed, will be comprised of 910 residential units, a hotel, apartments, flats, retail space and office space.

Meanwhile, another tall-tower development is currently under consideration for planning permission.

Canary Wharf Group''s Heron Quays West scheme features a tower divided into three sections of 12, 21 and 33 storeys, QS Week reports.

In addition, the plan includes a tunnel that will connect the building with the Canary Wharf Underground station and a four-storey restaurant and bar development.