£2bn race for Wood Wharf

BRITISH Waterways has drawn up its shortlist of potential partners for the £2bn development of Wood Wharf, a key Docklands site next to Canary Wharf.

Contenders are British Land; Grosvenor; a consortium comprising Canary Wharf Group, Ballymore Properties and Manhattan Loft Corporation; and a group led by Stanhope with First Base and Royal Bank of Scotland.

British Waterways unveiled the proposed development to turn the 20-acre site into a hub of apartments and offices, in February. A final decision on the developer is expected before the end of the year.

'We are delighted to have attracted such an excellent field of candidates and the high quality of all of the proposals has made this a challenging decision,' said British Waterways chief executive Robin Evans.

'This is a high calibre shortlist and we look forward to working with each prospective partner-during the final stage of our selection process.'

The plan for Wood Wharf includes 3.6m square feet of commercial space and 1500 flats as well as a hotel, a new canal link and basin and public spaces.

British Waterways, a public corporation that manages about 2000 miles of rivers and canals, has a property portfolio worth more than £400m. It owns the Wood Wharf freehold and is likely to retain a major share in terms of ownership and control of the project.