Canary Wharf Group to Invest £84 Million Into Affordable Housing


Developer Canary Wharf Group (CWG) has just struck an £84 million housing deal with CBRE Investment Management as part of its Wood Wharf residential scheme. Over the last few years, Wood Wharf has become one of London’s most successful regeneration projects, providing its residents with thousands of wonderfully designed new homes, millions of square feet of cutting-edge office space, and hundreds of acres of first-class retail and greenspace. Meanwhile, this latest announcement from the Canary Wharf Group seems set to ensure this iconic part of the capital only increases its global appeal. 

Photo by Kayco Photo


The Affordable Housing Fund (AHF) will oversee more than 290 homes sold to the site. Already specialists in delivering affordable and sustainable housing across the UK, these new additions will also be managed by Pinnacle Group in conjunction with CBRE Investment Management, which amounts to an impressive new partnership between a range of established industry giants. 


The investment comes after CWG secured £535 million in development for Wood Wharf last year through investment firms Caine International and Starwood Capital Group. The largest sum of its kind anywhere in the UK, over the course of the last year, CWG is also hard at work delivering Wood Wharf Phase Three, part of the Build-to-Rent (BTR) scheme. Set to deliver 1308 new homes across three towers and two buildings, a new school and GP surgery are also under construction, plus 26,300 sq. of commercial space. 


John Mulqueen, CIO at CWG, said, ‘We are delighted to work with CBRE IM to create high-quality affordable homes at Canary Wharf for the benefit of the local community. This agreement between CWG and CBRE IM demonstrates the appeal of the residential neighbourhoods being constructed as part of the vibrant mixed-use neighbourhood CWG has created, with award-winning buildings, world-class amenities and exceptional transport links.’


As Wood Wharf continues its ascension, it remains, as ever, an intrinsic part of the ongoing evolution of Canary Wharf. Once predominantly known as a financial hub, it's since been transformed into one of London’s most dynamic cultural districts. A progressive, modern riverside community, this is a wonderful, safe place to call home.


Going forward, the commitment from Canary Wharf Group only demonstrates how investment in Wood Wharf continues to boost the local economy. As such, the prospect of a further 290 affordable properties in this exceptional part of the capital remains a genuinely thrilling prospect. 


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