Canary Wharf Group has amassed an £800m war chest, giving it the fire power to snap up bargain assets following the downturn in the commercial-property market. Sunday Times
The group is sitting on the cash pile after a series of lucrative disposals from its east London estate in the past two years.
Some of this will be spent on opportunities outside Docklands to help Canary to diversify its portfolio.
The group has been hunting for suitable schemes – mainly in the City - for more than a year, but now commercial-property values are falling, it hopes to find more opportunities.