Canary Wharf lays out build-to-rent plans

The developer behind the Canary Wharf estate will build more than 1,100 build-to-rent flats in the east London docklands over the next year, the firm said.

Canary Wharf Group said in the run-up to Christmas that its first scheme, 327-home 10 George Street, will be available to tenants from early this year under its new build-to-rent brand, Vertus.

This week, the group confirmed it will open two further schemes this year, the 636-home Newfoundland apartment block and the 174-home 8 Water Street, making a total of 1,137 homes.

The business is also reported to be considering further developments in the Wood Wharf part of the Canary Wharf estate. Canary Wharf Group is also just completing a residential tower for private sale, 10 Park Drive, and is planning another, One Park Drive, close by.

Canary Wharf said in December that the group’s experience as a commercial landlord meant it was “exceptionally well placed” to venture into the rented residential market. Rents on the 10 George Street scheme, designed by Grid Architects, will start at £1,950 per month.