Riverside South (Canary Wharf)

Planning

The development is being planned by J.P. Morgan & Co., which purchased a 999-year lease on the site from Canary Wharf Group in November 2008. It will be located on the western side of the Isle of Dogs, immediately south of Westferry Circus on the bank of the River Thames. This is one of the few sites left in the Docklands area which has been identified as suitable for the construction of skyscrapers.

The original proposal consisted of two buildings of 214 m and 189 m, designed by the Richard Rogers Partnership. These were approved in the summer of 2004.

In April 2007, Canary Wharf Group submitted a new planning application to increase the size of the scheme by 36420 m2 to 327255 m2. The application confirmed work was underway on site. Tower 1 of the scheme was increased from 214 m to 235.64 m, while Tower 2 was reduced from 189 m to 185.84 m. The middle building adjoining the towers was increased from 47 m to 72 m. The new design was granted planning permission by the London Borough of Tower Hamlets on 21 June 2007. A further minor revision was submitted for approval in October 2008, which would reduce the height of the middle building by 9 m.

The taller tower could become the tallest building in Canary Wharf, exceeding One Canada Square by a metre (on an AGL basis; One Canada Square is higher AOD, so will still appear taller on the skyline). The combined development will have the longest river frontage of any building in London, and in terms of floorspace will be among the largest offices in Europe.

In November 2025, J.P. Morgan Chase announced plans to recommence work on the site, with a new design by Foster + Partners. With Canary Wharf Group acting as co-developer, construction is expected to take around six years.

Construction

In early 2007, JPMorgan considered the development as an option for their new London premises, which would involve relocating from their various City of London offices. The company initially decided to remain in the City, but in August 2008, the company announced that it had signed heads of terms to move to Riverside South, and in November 2008 JP Morgan signed an agreement to purchase a 999-year lease on the site for £237 million.

Canary Wharf Contractors Limited were contracted to construct the basement structure up to ground level. Work on the basement slab for Tower 1 began in July 2009, with concrete being poured for the basements. Two crane bases appeared on site in September 2009, but work ceased in 2010. In December 2010, JP Morgan said that it would be moving its London staff into 25 Bank Street, a smaller building on the Canary Wharf estate that was once the London office of the collapsed investment bank Lehman Brothers. In April 2011, JP Morgan announced their intention to complete the building up to street level with work due to start in October 2011, and work on the basement levels was completed. In 2015, JP Morgan put plans to sell the site on hold to reconsider whether the land should be retained for a new European HQ in anticipation of the bank’s future growth in London (perhaps in partnership with another a joint venture anchor tenant). | | File:Construction site of Riverside South (Canary Wharf) (September 2007).jpg | Ground work under way, September 2007 | File:Canarywharfsite.jpg | Construction as of March 2010 | File:Construction of Riverside South (Canary Wharf) in London, spring 2013 (7).JPG | Construction of Riverside South, May 2013

References

References

1. "Champagne on ice for Rogers Stirk Harbour over £1.5 billion HQ {{!".
2. Ruddick, Graham. (17 November 2008). "JP Morgan signs Canary Wharf deal".
3. (30 March 2007). "Tower Hamlets Council: updated planning application".
4. (20 October 2008). "Tower Hamlets Council: updated planning application".
5. (27 November 2025). "JP Morgan revives £3 billion skyscraper plan for Canary Wharf after 20 years on ice". IanVisits.
6. Morby, Aaron. (27 November 2025). "JP Morgan unveils plan for £3bn London mega-tower".
7. (1 August 2008). "Bloomberg: JPMorgan to Move European Head Office to Canary Wharf".
8. (17 November 2008). "Financial News: JP Morgan pushes ahead with £237m Canary Wharf move".
9. (4 May 2011). "Work To Restart On Riverside South".
10. "WJ UK - Riverside South Development, Canary Wharf".
11. "JP Morgan moots Riverside revival".