Skyscraper Plan May Switch From Offices To Apartments

Canary Wharf is famous for its plethora of skyscrapers, but the latest tower may continue a trend away from office buildings and towards the residential sector.

A consultation has been started by Canary Wharf Group over the possibility of switching the planned purpose of its latest skyscraper, raising the prospect of the 60-storey building at 1A Park Place becoming a residential hub for around 700 homes, Bloomberg reports.

If the plans are amended, that may mean the company will need to speak to lift consultants about the very different needs that might be required by the residents of hundreds of different homes, rather than a smaller number of offices that each contains more people.

Particular differences will include issues of 24-hour access and the safety and security implications for this.

The original plans were for a building containing 215 million square foot, which Bloomberg notes is twice the available space in the iconic ‘Gherkin’ skyscraper in the City of London.

Canary Wharf Group is considering the switch as a response to the pandemic, which has led to a decline in rental income from offices due to people working from home, as well as the potential prospect that remote working may become an established trend, reducing the need for office space.  

By contrast, there is a growing need for housing in London and this is particularly true in the east of the capital, which has seen the highest growth in recent years and is expected to continue doing so.

In the last census a decade ago, the two boroughs with the highest rate of population growth in the UK were Tower Hamlets and Newham. This year’s census may provide confirmation of this as a longer-term trend.

Accommodating a higher number of residents in an already densely-populated part of the capital may require more towers to be built. This will mean many more lifts being required with the needs of those living there 24/7 in mind.