Canary Wharf’s lofty office towers are set to be overshadowed by Europe’s tallest residential building in further evidence of London’s effervescent housing market.
Tom Ryan, an Irish property investor, intends to build a £1bn, 74-storey skyscraper on the site he acquired for £100m on Thursday in the business district to the east of the City of London. The tower will be 7 metres higher than Canary Wharf’s tallest office building. The acquisition is the first in what sources say will be a series of UK property investments by Mr Ryan.
Hertsmere is the first British scheme for Mr Ryan, who has invested in several other countries, Mr Berridge said. Ryan Corporation would not provide details of Mr Ryan’s past developments.