Canary Wharf sold back to Reichmann
Tuesday 03 October 1995
Canary Wharf, the London Docklands development which includes Western Europe's tallest office building, was last night sold for around pounds 800m to a consortium led by Paul Reichmann, the Canadian entrepreneur who originally built the development. A consortium of 11 banks, led by Lloyds, that rescued Canary Wharf two years ago signed the deal after two months of negotiations.
It is a coup for Mr Reichmann, who took over the project in 1989 before the huge costs forced the family business, Olympia &York, into administration. He returned this summer to buy back the development with investors including Prince al- Waleed bin Talal bin Abdulaziz of Saudi Arabia and Larry Tisch, the American media mogul.
- 1 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 2 Shia LaBeouf claims he was raped during #IAMSORRY art installation performance
- 3 'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
- 5 Michael Buerk wishes he killed Jimmy Savile when he had the chance - by pushing him overboard a cruise ship
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
£30k - 38k per year + Benefits: Opilio Recruitment: An award-winning consume...
£40k - 45k per year + Benefits: Opilio Recruitment: A fantastic opportunity ...
£30k - 35k per year + Benefits: Opilio Recruitment: We’re currently re...
£35k - 45k per year + benefits: Opilio Recruitment: A fantastic opportunity ...