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Infrastructure Works Start At Riverside South

The first indications that Riverside South may get off the ground sooner rather than later have materialised with the revelation that Canary Wharf are preparing infrastructure works to support the huge project.

Riverside South is a couple of skyscrapers on the western edge of the estate bounding on to the River Thames and Westferry Circus that were first revealed by this site back in 2001. At 214 and 189 metres in height not only will they be amongst the tallest office towers in London if built, but combined are the largest single office development in the whole of Europe with approaching 230,000 square meters on offer. The taller tower will also be the second tallest building at Canary Wharf, but still 23 metres taller than the record holder, One Canada Square.

The infrastructure works will at first consist of the upgrade of the EDF electric substation nearby as the planned development will use so much electricity the current local grid is incapable of supplying the necessary voltage.

Construction of the substation is due to begin immeniently with an expected delivery date of 2009. EDF have also hinted that Canary Wharf could be about to begin construction on Riverside South in the second quarter of 2007 with completion in 2009 but this has yet to be confirmed. The site is unoccupied at the moment and with no demolition required it can easily be brought online for construction once the decision is taken.

At the heart of this is the success that Canary Wharf have had in getting their bespoke office developments at Churchill Place and Canada sold in recent months to the likes of Bear Sterns, State Street Bank and KPMG showing the enduring popularity of the estate to blue chip firms.

This has reached the point that they are running out of space and have a desperate need for more if they are not to lose tenants back to the City of London. Building 230,000 square metres of floor-space is a pretty risky undertaking for any company, even one like Canary Wharf, but with these improving market conditions not building could well prove riskier.

When you've built an image partly on being able to provide massive floor-plates in corporate friendly buildings, the last place you'd want to be is in the same situation as the City of London in 1999 where the lack of suitable offices stopped firms like HSBC from consolidating in a single premises and forced them to look elsewhere. That would be ironic.

Article Related buildings:

Riverside South Tower 1

Riverside South Tower 1
Riverside South Tower 2

Riverside South Tower 2
One Canada Square

One Canada Square
Riverside South Canary Wharf London
Riverside South Canary Wharf London