Canary Wharf was once home to the West India Docks, a complex that imported goods from all over the world. It was an essential part of the British Empire. In the 20th century, these docks were relocated to Tilbury. Once the ports closed, buildings in the area fell into disrepair. Developers and the Greater London Council eventually transformed the room. Today, this area is the second financial center of London.
London Docklands Development Corporation
What’s the story behind Canary Wharf? Developed in the late nineteen nineties, the area is now one of London’s most desirable addresses. Completed public transport links and expansion of the London City airport are important reasons for its success. The increasing importance of communications and networking technologies also helped drive the development of Canary Wharf. The old London buildings were too cramped for the new demands of these industries, and the recent developments were built to accommodate this growing need.
Today, the area’s tenants include central banks, law firms, and news media companies such as Thomson Reuters and the Daily Mirror. The site is also home to the Financial Services Authority and 2012 Olympic Games organizers. The area’s popularity has helped it become a global business center.
Canary Wharf was once a hub for the fruit trade in London, but it’s now one of the city’s most prominent financial districts. Between 1978 and 1983, it lost over 12,000 jobs. As London moved away from blue-collar jobs, the area’s economy began to suffer. Today, it’s home to some of Europe’s tallest skyscrapers, including the world’s largest financial center.
In 1995, an international consortium purchased the Canary Wharf scheme. Olympia & York and other investors backed this group. The group became a prominent property developer and was listed on the London Stock Exchange. The company’s name was changed to Canary Wharf Group, and occupancy rates began to rise.
When Canary Wharf was completed, the area’s working population quadrupled to over six thousand. By 2004, Canary Wharf became home to the most significant property company in the United Kingdom. Its redevelopment eventually led to a massive luxury and expensive private housing boom.
Residents of the Isle of Dogs initially opposed the project. The Association of Island Communities, led by Ted Johns, and residents were worried that the project would not benefit them and their community. In the end, however, the community and the developers improved relations. Today, more than 7,000 people from Tower Hamlets and other communities work at Canary Wharf.
The West India Docks were completed in 1802. They stretched from the Tower of London several miles along the Thames and formed the world’s largest port. In the 19th century, dock activity increased as England ushered in the Industrial Revolution. The port also served to receive cargo from the British-controlled Canary Islands. Until the mid-1960s, Canary Wharf was a warehousing district.
The Canary Wharf area was once one of the busiest docks in the world. The area used to import goods from all over the world, including elephants, rum, and sugar. Today, it is home to a world-famous bar named Rum & Sugar.
Lehman Brothers’ office tower in the Docklands of London will become JP Morgan’s European headquarters. The building initially had plans to be home to an Enron subsidiary, but that fell through in 2001. Until September 2008, it was home to Lehman Brothers.
Although the firm had a terrible financial performance, its stock prices were up, and its headcount and compensation soared. Last year, the five largest firms’ heads earned a combined $154 million. They also leased new offices to accommodate new hires. Their new building in Canary Wharf has a capacity of 1 million square feet and is home to about 1,000 people.
It took 32 months to construct 25 Bank Street. It is surrounded by water on three sides, with two-thirds of the site being in the former dock. The site required a coffer dam built into the old port. Earth ramps also routed road traffic to help with construction. As well as this, river traffic was used extensively to minimize road deliveries. The site also housed a concrete batching plant positioned on a barge.
After the completion of the first phase of the building, tenants began to see Canary Wharf as a viable alternative to traditional office locations. The working population increased to over 63,000 people by 2004, making Canary Wharf Group the most significant property company in the UK. In March 2004, a Morgan Stanley consortium took over Canary Wharf Group plc, and the company is now traded on the AIM stock exchange.
Lehman Brothers did not have a reputation for corporate excess, but its executives showed a conspicuous taste for finer things. They sprang from the firm’s European headquarters. Although it was a business that was a success, the company still struggled financially. In May of 2008, Lehman Brothers filed for bankruptcy. The company’s bankruptcy was the largest in the history of corporate bankruptcy.
As a result of the financial crisis, the firm’s collapse left 5,000 people out of work in London. However, many people stayed in the investment banking industry and transferred their jobs to new owners. A total of 2,400 people were moved to Barclay’s and Nomura.
The collapse of Lehman Brothers reverberated across the world. It was caused by short-term investing strategies and poor investment practices. The resulting financial crisis triggered today’s populist surge as concerns of inequality, job insecurity, and globalization arose. Though policymakers have tried to make the economy safer, economic meltdowns have occurred repeatedly throughout history.
Spitting Image Productions
Canary Wharf was once the headquarters of Spitting Image Productions. The production company was founded in Birmingham, and they were behind the television show that ran on the ITV network for 12 years. The company had offices in Limehouse Studios in Canary Wharf, London. Its puppets were designed by newspaper cartoonists Peter Fluck and Roger Law.
The Spitting Image team began its career by creating television shows aimed at the general public and parodying politicians, celebrities, and sports figures. The team would work until the last minute to keep the show topical. For example, the first series premiered in February 1984, when Thatcher’s second government was in full swing. The Queen Mother was depicted as an old northern drunk in one episode.
After LDDC approved the film studios, the studios started building. The first building was Shed 30, which had previously been a banana and rum warehouse. It was made to be a solid and durable building. The company applied for grants and loans to make it possible. They also did not pay rates until 1991. This allowed the studios to hire renowned architect Sir Terry Farrell to design their studios.
The studio was called Spitting Image Productions, and its founder, Roger Law, was the mastermind behind the show. The production lasted twelve years and corrupted an entire generation’s view of institutions and authority. However, despite its success, the show was canceled in 1996 due to its declining viewership. It was initially planned to have a new series in 2006, but the network canceled the plans due to a dispute over the Ant and Dec puppets.
After Canary Wharf, the Spitting Image production company had several other projects. One of the most famous of these is the Spitting Image TV series. The Spitting Image cartoons feature local politicians and celebrities in an entertaining and irreverent manner. Although Spitting Image is banned in the UK, the puppets continue to appear in TV shows. The series was later adapted and aired on the NBC network.
Spitting Image Productions was based in Limehouse Studios, an old warehouse. The studios opened in 1983 and were home to various innovative shows for the channel four network. Spitting Image Productions’ workshop was located on the upper floor of the building.
The studio was also the location of the Spitting Image TV show that ran from 1983 to 1988. The show had high expectations. However, it didn’t last long and was a victim of its circumstances. In 1985, Carl Perkins filmed a televised concert at the studio. The show was a massive success for Spitting Image Productions and was widely watched.