Template:Wp-Canary Wharf-History

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Canary Wharf is located on the West India Docks on the Isle of Dogs.

West India Dock Company

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. West India Docks was primarily developed by Robert Milligan (c. 1746–1809) who set up the West India Dock Company.

Port of London Authority

The Port of London Authority was established in 1909 and took control of West India Dock. Canary Wharf itself takes its name from No. 32 berth of the West Wood Quay of the Import Dock. This was built in 1936 for Fruit Lines Ltd, a subsidiary of Fred Olsen Lines for the Mediterranean and Canary Islands fruit trade. It is located on the Isle of Dogs, the quay and warehouse were given the name Canary Wharf.

London Docklands Development Corporation

After the 1960s, when cargo became containerized, port industry began to decline, leading to all the docks being closed by 1980. 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.^[1]

The Canary Wharf of today began when Michael von Clemm, former chairman of Credit Suisse First Boston (CSFB), came up with the idea to convert Canary Wharf into a back office. Further discussions with G Ware Travelstead led to proposals for a new business district and included the LDDC developing an inexpensive light metro scheme, the Docklands Light Railway, to make use of a large amount of redundant railway infrastructure and to improve access.

The project was sold to the Canadian company Olympia & York and construction began in 1988, master-planned by Skidmore, Owings & Merrill with Yorke Rosenberg Mardall as their UK advisors, and subsequently by Koetter Kim. The first buildings were completed in 1991, including One Canada Square, which became the UK's tallest building at the time and a symbol of the regeneration of Docklands. 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.

Initially, the City of London saw Canary Wharf as an existential threat. It modified its planning laws to expand the provision of new offices in the City of London, for example, creating offices above railway stations (Blackfriars) and roads (Alban Gate). The resulting oversupply of office space contributed to the failure of the Canary Wharf project.

Canary Wharf Group

In October 1995, an international consortium that included investors such as Alwaleed, bought control for $1.2 billion. Paul Reichmann, of Olympia & York, was named chairman, and Canary Wharf went public in 1999. The new company was called Canary Wharf Limited, and later became Canary Wharf Group.

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. The residents lost the case.

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.

In March 2004, Canary Wharf Group plc. was taken over by a consortium of investors, backed by its largest shareholder Glick Family Investments and led by Morgan Stanley using a vehicle named Songbird Estates plc.