[1] Alongside the City of London, it constitutes one of the main financial centres in the United Kingdom and the world,[2] containing many high-rise buildings including the third-tallest in the UK, One Canada Square,[3] which opened on 26 August 1991.
[4] Developed on the site of the former West India Docks in East London, Canary Wharf contains around 16,000,000 sq ft (1,500,000 m2) of office and retail space.
As journalist José Luis Jiménez explains, the name of this location stems from its use during World War II as a storage area for agricultural exports—primarily tomatoes, cucumbers, and bananas—from the Canary Islands.
From 1802 to the late 1980s, what would become the Canary Wharf Estate was a part of the Isle of Dogs (Millwall), Limehouse, and Poplar and was one of the busiest docks in the world.
[7][8] After the docks closed in 1980, the British Government adopted policies to stimulate redevelopment of the area, including the creation of the London Docklands Development Corporation (LDDC) in 1981 and the granting of Urban Enterprise Zone status to the Isle of Dogs in 1982.
By the time it opened, the London commercial property market had collapsed, and Olympia and York Canary Wharf Limited filed for bankruptcy in May 1992.
In 1997, some residents living on the Isle of Dogs launched a lawsuit against Canary Wharf Ltd for private nuisance because the tower interfered with TV signals.
[11] Recovery in the property market generally, coupled with continuing demand for large floorplate Grade A office space, slowly improved the level of interest.
A critical event in the recovery was the much-delayed start of work on the Jubilee Line Extension, which the government wanted ready for the Millennium celebrations.
was taken over by a consortium of investors, backed by its largest shareholder Glick Family Investments[12] and led by Morgan Stanley using a vehicle named Songbird Estates plc.
In addition to being a leading global financial district in the United Kingdom, Canary Wharf is famous for a cluster of the tallest modern commercial complexes and residential high-rise buildings.
[13] Building from scratch in early 1990s, the district is home to the first tallest iconic skyscraper, One Canada Square, in the United Kingdom.
In 20 years, Canary Wharf's new rapid grown skyscraper cluster has dramatically transformed the skyline of London with modern architectures.
[77] In addition to architectural values, "these buildings and structures are of significance due to their association with the development of the docks and the community that grew up around them".
[94] Around 105,000 people work in Canary Wharf,[95] and it is home to the world or European headquarters of numerous major banks, professional services firms, and media organisations, including Barclays, Citigroup, Clifford Chance, Credit Suisse, Ernst & Young, Fitch Ratings, HSBC, Infosys, JPMorgan Chase, KPMG, MetLife, Moody's, Morgan Stanley, Royal Bank of Canada, Deutsche Bank, S&P Global, Skadden, Arps, Slate, Meagher & Flom, State Street, The Economist Group and Thomson Reuters.
The square is named after Canada, because the original developers of modern Canary Wharf, Olympia & York, wanted to reflect their heritage.
The square has large circular glass ventilation holes to allow gases to escape from the underground car park.
Named after Richard Chancellor who sailed with Sir John Willoughby from Greenwich on their voyage through the White Sea to Moscow.
Events include street food markets, beach volleyball tournaments,[107] padel tennis competition,[108] and minigolf.
A total of 20 acres of landscaped parks, gardens and verdant squares complete with 1,000 trees, 4,000 shrubs and 70,000 seasonal plants are added each year.
[116][117] The design and development of Crossrail Place Roof Garden was honored by winning numerous prestigious international and United Kingdom awards.
[126] There are also numerous bars, restaurants, and food halls at street level, alongside plenty of outdoor seating enabling visitors to see the stunning wharf and riverside views.
Every four years, residents of Canary Wharf ward elect two councillors to represent them on Tower Hamlets Council.
Several leisure and commuter routes pass through or near the estate, including: Opened in a Grade I listed Georgian warehouse by Queen Elizabeth II in June 2003, the Museum of London Docklands is one of the main attractions in the area.
[147] The public are free to visit a range of outdoor light, art and interactive installations created by artists from around the world.
The Dragon Boat Race, based on a Chinese tradition dating back over 2,000 years, takes place in South Dock of Canary Wharf on summer, and is open to corporate teams of between 11 and 17 participants.
[154] It hosted over 60 live acts including music, theatre, dance, poetry, comedy, family funs and children's activities throughout the estate.
The majority of acts were free to attend, and the event transformed the estate's numerous parks, plazas, and open spaces as they hosted a line-up of artists and performers from across the world.
[161][162] People are free to visit more than 100 pieces of stand-alone sculptures, integrated architectural works, and outdoor art exhibiting outside buildings around the Canary Wharf area.
[163] Two printed maps are regularly updated by the Canary Wharf Group for visitors to discover and identify artworks permanently on display all over the estate.