Canary Wharf — the City responds

The City of London Corporation published its Draft Local Plan in November 1984, to vitriolic reviews (Facilities 3/2, February 1985). Poorly conceived and thought out, it showed no real understanding of the City's unique economy or of the fundamental changes taking place. Furthermore, the plan imposed strict conservation policies and put a severe constraint on further development. A major debate ensued over the ability of the City's building fabric to cope with this autumn's ‘big bang’ in financial services, and the resultant demand for a new type of space. Then Mr G. Ware Travelstead announced plans to increase City office space by 15 per cent — Canary Wharf in Docklands. Could London's financial centre of gravity shift (as preluded by Broadgate)? The City Corporation certainly seemed to think so. It soon began to transform its attitude toward office development. Latest estimates from the planning committee suggest that the City can provide at least 17 million ft2 of space if necessary. This uncertainty surrounding the future availability of space, its location and, ultimately, its cost, hinders long‐term premises management decisions.