Hertsmere Tower to bring super-luxury living to Canary Wharf

15th November 2013

Canary Wharf is set to become the home of the tallest residential tower in Europe which, if built, will outstrip the current tallest residential building in Europe, the 212m Sky Tower in Wroclaw, Poland.

Property developer Tom Ryan plans to spend £1bn on Hertsmere Tower, which at 74-storeys and 272m high, will be seven metres taller than One Canada Square. Its 714 apartments will be priced upwards of £1,000 sq ft. Richard Berridge, COO of Ryan Corporation UK, dismissed fears that London is in danger of an oversupply of luxury homes and described the site as “one of the very few places in the UK where you can build a tall building”. He added that the area has long been lacking “a very good residential building of a very high standard”. A local agent said that, in terms of prime property, “the pendulum has swung in favour of east London”, adding that “Canary Wharf is becoming the truly 21st-century part of London because it’s unencumbered by the small period properties prevalent in the rest of the capital; developers can create larger, more international-style buildings.” Mr Ryan has also pledged significant investment for social housing in neighbouring Poplar, Limehouse and the Isle of Dogs.

Source:   Financial Times