ࡱ> EGD bjbjss 8l+n n ,,,, 8,yGLLLLLFFFFFFF$_ILXG#"##GLL?3G$$$#8LLF$#F$$6CXFLep#0EFIG0yGLE<iL$piL8FiLF\S$7 !+GG$yG####iLn :  FOR Cost The rent in Canary Wharf is 30% cheaper than in properties in the City, and there are also concessions and incentives in place to attract business to the area. The business rates are also 35% cheaper in Canary Wharf. Capacity All major banks have been through a series of mergers and takeovers with smaller banks, stockbrokers or insurance companies since the 1980s, resulting in an increase in size of the organisation and its workforce. Many premises in the City are too small to accommodate larger organisations. Dealing floors require a large single room space which purpose built offices in Canary Wharf can provide. The cost of moving the organisation is small compared to the possible business benefits. Transport Transport links in Canary Wharf used to be problematic, but improvements have meant that they are now a positive reason to locate in this area. Banks have historically been located in the City, so the workforces are already orientated towards the east side of London. Workers coming in to Canary Wharf from the south of London have the Jubilee extension rather than the Waterloo and City line (the drain). The proximity of London City airport makes it possible for European clients and colleagues to visit companies for a single day for meetings. Facilities The purpose built offices in Canary Wharf are hi-tech and have excellent infrastructure surrounding them. The shopping and service provision in Canary Wharf is much improved. All of the major banks now have offices in Canary Wharf, resulting in economies of scale. AGAINST Transport Heathrow airport is more remote and makes an international day visit for a meeting untenable. Location The Canary Wharf location is not acceptable for wealthy clients, who dont want to travel far out of central London and who like the prestige of a bank located in the historical heartland of financial London. Banks, financial institutions and businesses have had to make the decision whether to move to Canary Wharf from the City What are the arguments for and against? These are the views of just one company who decided to make the move from their original premises in central London to Canary Wharf.   S x y    &'1klsԻآhSh|*h?5h3bh?5 h?5 hDh3bh3bh3b5h3bh3b5>*h3bh?hh5h3bh5>*hjh?UmHnHu"   { p y    } & & Fgd? & Fgd? & Fgd? & F gd?gdX&'1l$a$gdQ$a$gd3b & Fgd?gdX6&P 1h:p. 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