Not for long. Shortly after the opening, the London commercial property market collapsed and Olympia & York Canary Wharf Limited filed for bankruptcy in May 1992.
In March 2004 Canary Wharf Group was forced to be taken over by a consortium of investors led by Morgan Stanley using a vehicle named Songbird Estates to buy Canary Wharf Group. It was a bitter battle.
Among those committed to subscribe are China Investment and Morgan Stanley Real Estate Funds.
The writer, who know the area well having lived or worked there on and off since the late sixties, thinks it all has terrible fung shui. Now that Chinese money is going in a team of fung shui priests should be hired to sort out the district. It badly needs it.
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