There was great relief when the owners of Canary Wharf — Brookfield Corp. and the Qatar Investment Authority — injected cash into the London campus in October. But this conurbation of steel and glass towers is now entering a more difficult phase. The implicit support of its wealthy backers remains key to Canary Wharf muddling through.

The estate’s managers should feel less anxious today than they might have a few months ago. On Thursday, Barclays Plc extended the lease on its headquarters by five years to 2039 and declared the campus “a fantastic place to work.” The UK bank also agreed to a break fee on premises vacated by its investment bank. Canary Wharf will have some change even after clearing some £264 million ($335 million) of related borrowings, and can refurbish the building for new tenants.

QOSHE - Canary Wharf Will Test Its Owners' Unity and Resolve - Chris Hughes
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Canary Wharf Will Test Its Owners' Unity and Resolve

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22.12.2023

There was great relief when the owners of Canary Wharf — Brookfield Corp. and the Qatar Investment Authority — injected cash into the London campus in October. But this conurbation of steel and glass........

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