Canary Wharf Group has unveiled plans for new development Wood Wharf, set to be one of the most ambitious urban regeneration projects in London.

The group is continuing to evolve London's former docks site by redeveloping a 23-acre site into 5 million sq ft of mixed use space.

A sense of community is at the heart of these plans, which include 2 million sq ft dedicated to fast-growth businesses.

Creating workspaces for entrepreneurs and innovative businesses set to bring 20,000 jobs to the region, Wood Wharf will be a new part of London and one of the largest clusters of tech and creative businesses in the UK.

The move comes ahead of BusinessCloud's event in London taking a closer look at the city's tech property scene on Wednesday October 31.

→ BOOK NOW: Is London's tech property bubble about to burst?

The multi-billion pound development is expected to generate £2bn gross value add from new jobs and £199m into the local small business economy.

World-class architects and designers, such as Allies and Morrison, Allford Hall Monaghan Morris, Pilbrow & Partners, Herzog de Meuron and Heatherwick Studios, have been carefully selected to create a vibrant 24/7 urban environment with distinctive architectural appeal that answer the needs of the businesses of the future.

From open spaces and waterside walkways to running trails and independent retail boutiques, the development is designed to attract tech, creative and progressive businesses of all sizes.

Offering the latest in smart-building technology, Wood Wharf has already secured forward-thinking businesses such as Ennismore, owner of The Hoxton Hotels group and The Office Group – taking over 180,000 sq. ft in total.

Canary Wharf Group is currently in discussions with a range of tenants spanning the tech, cultural and educational industries.

Wood Wharf has been purpose-built to offer flexible workspaces and the opportunity for businesses to scale across the development.

The development will be targeting zero-carbon and zero-waste and is being built to have a positive social impact on the local area and communities - 25 per cent of the 3,600 residential homes will be affordable housing.

"Canary Wharf Group has reinvented London's business landscape once, and with Wood Wharf we intend to do so again for the era of fast growth tech and creative businesses," said chairman and chief executive Sir George Iacobescu.

"With the intention of creating 20,000 jobs, this will be a major investment into London’s infrastructure and a home for the people shaping the future of this great City."

Jacqueline de Rojas, president of techUK, added: "London's tech sector has grown at an extraordinary rate over the past five years.

"Tech companies have consistently broken records in terms of investment, job creation and revenue growth.

"The city needs infrastructure to accommodate this rapid expansion and Wood Wharf seems the perfect environment for start-ups and scale-ups with global ambitions."

BusinessCloud's event 'Is London's Tech Property Bubble about to Burst?' will take place on Wednesday 31st October from 5-7pm in London.

→ BOOK NOW: Is London's tech property bubble about to burst?

The event will shine a light on the capital’s tech property space and ask what the future holds. Speakers at the event include Cal Lee, global head, Workthere; Natasha Guerra, CEO, Runway East; Leigh Brody, chief scientific officer, Desktop Genetics; Jonathan Weinbrenn, managing director, BESpoke; Ritam Gandhi, founder, Studio Graphene; Kym Andrew, CMO, Wayra; and Ben Corrigan, co-founder and chief revenue officer, Pouch.

You can book your tickets here and if you are interested in speaking at this event please contact chris.maguire@businesscloud.co.uk.

For sponsorship opportunities email Helena Furness at sponsor@businesscloud.co.uk.