Thursday, September 19, 2024

Canary Wharf hit by winding up petition in row over energy bill

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However, the fact that NPower resorted to the legal threat will be seen as embarrassing for the property giant, which has been grappling with a cultural shift to homeworking.

Canary Wharf Group, which is owned jointly by the Qatar Investment Authority and Brookfield Property Partners, has seen a wave of companies announce plans to quit its East London office district as they downsize, including HSBC and Clifford Chance.

The company’s annual report in April showed the value of its office portfolio plunged by nearly £1bn last year.

Canary Wharf has responded to the shift by building homes, restaurants and schools in the area to encourage more people to live there. It is also investing in life sciences facilities in an effort to attract business beyond its core audience of finance.

An Npower Business Solutions spokesman said: “We can confirm we sought a winding up petition for a customer’s unpaid debt.

“Such an action is a last resort and we always encourage business customers to engage with us if there is an issue with their account. We tried to speak to the customer over a number of months but received no response. We have been able to speak to the customer today to agree a way forward that is satisfactory for both parties.”

A Canary Wharf Management spokesman said: “The bill relates to a vacant retail unit after a tenant left its premises. We were recently made aware of the bill which has since been settled. Canary Wharf’s retail and leisure units are at a very high 97pc occupancy, continuing to attract world leading restaurants and retailers.”

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