Canary Wharf in talks to build Walkie Talkie tower

Land Securities are in exclusive negotiations with Canary Wharf Group to build the Walkie Talkie tower for £350m, it has emerged.

The Financial Times has reported the group, which would use its in-house contracting arm, are likely to sign a deal in the next 4-5 weeks with construction starting in September.

As well as carrying out the construction, Canary Wharf Group will buy an equity stake in the scheme, the paper reports.

A spokesperson for Land Securities said the firm “was in conversation with parties” over the construction of the building, known officially as 20 Fenchurch Street.

The spokesperson said: “We will make an announcement as soon as a deal is done.”