Canary Wharf Group moves into private rented sector

17th October 2014

The Evening Standard reports that Canary Wharf Group is looking to move into the private rented sector (PRS), and is to build a 37-storey tower on Wood Wharf consisting entirely of flats purpose built for renting, to be known as Grid after the Southwark firm that designed them. The group is also considering converting some or all of the 566 flats in its Newfoundland tower on Canary Wharf into rental units, according to group finance director Peter Anderson. Mr Anderson said total returns from PRS exceeded those obtained from building and renting offices.

Evening Standard (16/10/2014)