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Riverside South (Canary Wharf)
Encyclopedia
Riverside South is a proposed skyscraper development in Canary Wharf
, London
. Some below ground-level work has been carried out by the investment bank JP Morgan, which bought a 999 year lease on the site with the intention of making the building its London office, but the firm now plans to move into an existing building at Canary Wharf, and it is not known when Riverside South will be completed.
in November 2008. It will be located on the western side of the Isle of Dogs
, immediately south of Westferry Circus on the edge of the River Thames
. This is one of the few sites left in the Docklands area which has been identified as suitable for the construction of skyscrapers.
The original proposal consisted of two buildings of 214 metres (702 ft) and 189 metres (620 ft), designed by Sir Richard Rogers. These were approved in the summer of 2004.
In April 2007, Canary Wharf Group submitted a new planning application to increase the size of the scheme by 36,420 m² to 327,255 m². The application confirmed work was underway on site. Tower 1 of the scheme was increased from 214 metres (702 ft) to 235.64 metres (773 ft), while Tower 2 was reduced from 189 metres (620 ft) to 185.84 metres (610 ft). The middle building adjoining the towers was increased from 47 metres (154 ft) to 72 metres (236 ft). The new design was granted planning permission by the London Borough of Tower Hamlets
on 21 June 2007. A further minor revision was submitted for approval in October 2008, which would reduce the height of the middle building by 9m.
The taller tower could become the tallest building in Canary Wharf, exceeding One Canada Square
by a metre (on an AGL
basis; One Canada Square is higher AOD
, so will still appear taller on the skyline). The combined development will have the longest river frontage of any building in London, and in terms of floorspace will be among the largest offices in Europe
.
In early 2007, JPMorgan considered the development as an option for their new London premises, which would involve relocating from their various City of London
offices. The company initially decided to remain in the City, but in August 2008 the company announced that it had signed heads of terms
to move to Riverside South, and in November 2008 JP Morgan signed an agreement to purchase a 999 year lease on the site for £237 million.
Canary Wharf Contractors Limited were contracted to construct the basement structure up to ground level. Work on the basement slab for Tower 1 began in July 2009, with concrete being poured for the basements. Two crane bases appeared on site in September 2009, but work ceased in 2010. In December 2010, JP Morgan said that it would be moving its London staff into 25 Bank Street
, a smaller building on the Canary Wharf estate that was once the London office of the collapsed investment bank Lehman Brothers
. JP Morgan is expected to complete Riverside South up to street level before deciding how to move forward with the site, which it is now holding as an investment.
Canary Wharf
Canary Wharf is a major business district located in London, United Kingdom. It is one of London's two main financial centres, alongside the traditional City of London, and contains many of the UK's tallest buildings, including the second-tallest , One Canada Square...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. Some below ground-level work has been carried out by the investment bank JP Morgan, which bought a 999 year lease on the site with the intention of making the building its London office, but the firm now plans to move into an existing building at Canary Wharf, and it is not known when Riverside South will be completed.
Planning
The development is being planned by JP Morgan, who purchased a 999 year lease on the site from Canary Wharf GroupCanary Wharf Group
Canary Wharf Group plc is the owner and developer of nearly of property at Canary Wharf in London. It is notable because over the last 10 years it has constructed more office space in London than any other developer...
in November 2008. It will be located on the western side of the Isle of Dogs
Isle of Dogs
The Isle of Dogs is a former island in the East End of London that is bounded on three sides by one of the largest meanders in the River Thames.-Etymology:...
, immediately south of Westferry Circus on the edge of the River Thames
River Thames
The River Thames flows through southern England. It is the longest river entirely in England and the second longest in the United Kingdom. While it is best known because its lower reaches flow through central London, the river flows alongside several other towns and cities, including Oxford,...
. This is one of the few sites left in the Docklands area which has been identified as suitable for the construction of skyscrapers.
The original proposal consisted of two buildings of 214 metres (702 ft) and 189 metres (620 ft), designed by Sir Richard Rogers. These were approved in the summer of 2004.
In April 2007, Canary Wharf Group submitted a new planning application to increase the size of the scheme by 36,420 m² to 327,255 m². The application confirmed work was underway on site. Tower 1 of the scheme was increased from 214 metres (702 ft) to 235.64 metres (773 ft), while Tower 2 was reduced from 189 metres (620 ft) to 185.84 metres (610 ft). The middle building adjoining the towers was increased from 47 metres (154 ft) to 72 metres (236 ft). The new design was granted planning permission by the London Borough of Tower Hamlets
London Borough of Tower Hamlets
The London Borough of Tower Hamlets is a London borough to the east of the City of London and north of the River Thames. It is in the eastern part of London and covers much of the traditional East End. It also includes much of the redeveloped Docklands region of London, including West India Docks...
on 21 June 2007. A further minor revision was submitted for approval in October 2008, which would reduce the height of the middle building by 9m.
The taller tower could become the tallest building in Canary Wharf, exceeding One Canada Square
One Canada Square
One Canada Square is a skyscraper in Canary Wharf in the London Borough of Tower Hamlets. It is the tallest completed building in the United Kingdom since 1991, standing at above ground level and containing 50 storeys...
by a metre (on an AGL
Above ground level
In aviation and atmospheric sciences, an altitude is said to be above ground level when it is measured with respect to the underlying ground surface. This is as opposed to above mean sea level , or in broadcast engineering, height above average terrain...
basis; One Canada Square is higher AOD
Ordnance Datum
In the British Isles, an Ordnance Datum or OD is a vertical datum used by an ordnance survey as the basis for deriving altitudes on maps. A spot height may be expressed as AOD for "above ordnance datum". Usually mean sea level is used for the datum...
, so will still appear taller on the skyline). The combined development will have the longest river frontage of any building in London, and in terms of floorspace will be among the largest offices in Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
.
Construction
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
offices. The company initially decided to remain in the City, but in August 2008 the company announced that it had signed heads of terms
Heads of Agreement (law)
A heads of agreement is a non-binding document outlining the main issues relevant to a tentative agreement. A heads of agreement document will only be enforceable when it is adopted into a parent contract and subsequently agreed upon...
to move to Riverside South, and in November 2008 JP Morgan signed an agreement to purchase a 999 year lease on the site for £237 million.
Canary Wharf Contractors Limited were contracted to construct the basement structure up to ground level. Work on the basement slab for Tower 1 began in July 2009, with concrete being poured for the basements. Two crane bases appeared on site in September 2009, but work ceased in 2010. In December 2010, JP Morgan said that it would be moving its London staff into 25 Bank Street
25 Bank Street
25 Bank Street is an office tower in the Canary Wharf business district of London. It was developed in 2001-2003 by Canary Wharf Group as one of five new buildings on its Heron Quays site...
, a smaller building on the Canary Wharf estate that was once the London office of the collapsed investment bank Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
. JP Morgan is expected to complete Riverside South up to street level before deciding how to move forward with the site, which it is now holding as an investment.
See also
- Canary WharfCanary WharfCanary Wharf is a major business district located in London, United Kingdom. It is one of London's two main financial centres, alongside the traditional City of London, and contains many of the UK's tallest buildings, including the second-tallest , One Canada Square...
- One Canada SquareOne Canada SquareOne Canada Square is a skyscraper in Canary Wharf in the London Borough of Tower Hamlets. It is the tallest completed building in the United Kingdom since 1991, standing at above ground level and containing 50 storeys...
- Heron Quays WestHeron Quays WestHeron Quays West is a skyscraper development approved for construction in Canary Wharf, London. The current design is for two large skyscrapers connected by a large atrium at the base, not unlike the Riverside South development. The site is at the south west of the Canary Wharf site off Bank Street...
- Isle of DogsIsle of DogsThe Isle of Dogs is a former island in the East End of London that is bounded on three sides by one of the largest meanders in the River Thames.-Etymology:...
- North QuayNorth QuayNorth Quay is an approved office development, consisting of three towers on the north side of Canary Wharf in London. The developer is Canary Wharf Group and the architect is Cesar Pelli.The heights of the towers will be:*Tower 1 - 221m - 40 floors...
- Shard London BridgeShard London BridgeShard London Bridge is a skyscraper under construction in Southwark, London. When completed in May 2012, it will be the tallest building in the European Union and the 45th-tallest building in the world, standing tall...
- Tall buildings in London