Report in FT says group’s contracting arm could sign deal with Land Securities in next month

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.”