Canary Wharf
Canary Wharf financial district in east London Reuters

The Canary Wharf Group has won approval to build homes and office space over a 4.9 million square feet space adjacent to the Canary Wharf business district.

The Group had agreed to pay 90.4 million pounds ($155 million) for an exclusive control of the Wood Wharf site in 2012 by acquiring stakes from Waterways and Ballymore Properties Ltd.

The development includes shops, a hotel and 350,000 square metres (3.8 million square feet) of office space. The project will be the biggest in the Canary Wharf Group's development pipeline following on from their successful bid to build a London tower at 190 meters (620 feet).

At present the company has 16 million square feet of completed office and retail space in the business district bearing its name.