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Canary Wharf


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Canary Wharf is a rival to London's traditional financial centre, The City of London or 'Square Mile'. The extensive business development is located on the Isle of Dogs in the London Borough of Tower Hamlets. It is centred on the old West India Docks much of which was destroyed in WW2. After a brief recovery in the 1950s, the port industry began to decline. The project to revitalise the eight square miles of derelict London docks began in 1981 with the establishment of the London Docklands Development Corporation. Deregulation of financial services in London had changed the way merchant banks operated the need was for large open plan floor space which could be used as a trading floor. This was not available in the city. The Government was persuaded to look at a new financial centre development. In 1987, Olympia and York Canary Wharf Investments and the LDDC signed the Master Building Agreement for 1.2 million sq.m. international financial centre. Construction began in 1988, with phase one completed in 1991. In 1990, One Canada Square (or Canary Wharf Tower) became the UK's tallest building 235.1 m. Phase 2 development began in 1997 with the construction of the HSBC Tower and Citigroup Centre headquarters, then Heron Quays. Canary Wharf is now a thriving development employing around 91,000 people. There are also entertainment, shopping and residential complexes. Picture taken 31st July 2007.

11th Aug 2007 by Diane Earl

Geography, History

Key Stages:
Key Stage 1, Key Stage 2, Key Stage 3, Key Stage 4, Key Stage 4+

finance offices banking urban commerce London

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