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JP Morgan has cleared the final major regulatory hurdle to build a £3bn, 265-metre skyscraper at Riverside South that will eclipse One Canada Square as Canary Wharf's tallest building, report The Telegraph and City AM. London City Airport, whose safeguarding zone previously capped heights in the area, has signed off on revised flight-path arrangements covering the Foster + Partners-designed scheme. The tower will provide roughly 3 million sq ft of Grade A space for up to 12,000 staff and serve as JP Morgan's primary UK headquarters and one of its largest EMEA offices. Construction is expected to take about six years, supporting 7,800 jobs and delivering an estimated £10bn local economic boost, with Canary Wharf Group acting as co-developer on the plot JP Morgan has owned since 2008. Chancellor Rachel Reeves called the scheme a “multi-billion-pound vote of confidence” in the UK, though the bank has warned the project is unlikely to progress without Treasury confirmation of business-rate discounts and full first-year capital allowances. |
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The Telegraph (07/04/2026) City AM (07/04/2026) |