Blackstone Reconsiders Sale of BP's Canary Wharf Office Amid Improved District Sentiment

Blackstone is weighing the sale of its Canary Wharf office building, Cargo, as early as next year. The building was bought in 2014 for £165 million and renovated with an additional £100 million. The sale is expected to be higher than the previous abandoned talks, reflecting the improving outlook for Canary Wharf. HSBC and JPMorgan Chase are moving into the district, boosting sentiment. A sale would be the first of an income-producing office building on Canary Wharf in recent years.