The role of solicitors in the development of Canary Wharf

 

Canary Wharf is an area in East London that has been regenerated. Historically the area operated as the West India docks, but in recent years it has become a financial centre and is sometimes dubbed ‘the new City’. This is a reference to the square mile which inhabits all of London’s traditional financial establishments, such as the Bank of England and large law firms.

With economic development and regeneration comes risk, and Canary Wharf solicitors were crucial in allowing this risk to be managed. When an area becomes a site for regeneration the local authorities essentially declare the area as ‘open for business’. Developers are permitted to build structures that would otherwise not be allowed, and property regulations which dictate whether and what type of business a site is permitted to have become far less restrictive. The area of Canary Wharf was no exception, but the buildings were being designed for multinational banks and investment firms. The stakes, and the risks, were therefore much higher. Canary Wharf solicitors were there to ensure that all the parties were sharing the risks in a manner appropriate to the level of benefit they stood to gain.

Today Canary Wharf solicitors are most commonly involved in the business of the area (i.e. finance). However, there is still much development taking place, and property specialists are there to help. If you are interested in moving to Canary Wharf, or if you are working there and are facing legal issues, you would almost certainly benefit from speaking to a specialist solicitor. It is important however, to seek legal advice from a solicitor that specialises in the area of law that is relevant to your case.

If you would like help finding recommended solicitors local to Canary Wharf, Contact Law can put you in touch with a firm we work with free of charge. So, if you have any questions please call us on 0800 1777 162 or complete the web-form above.

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