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French leave-taking

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With the London Docklands Development Corporation being wound up at the end of the month, how encouraging to see that Michael Heseltine's regeneration agency is going out with a bang, not a whimper. The champagne corks will be popping at 11.30am tomorrow morning (Friday the 13th) when Sir Michael Pickard, its chairman, will be hosting a reception and introducing George Iacobescu, deputy chairman of Canary Wharf Ltd, who will be talking on the future of East London. The event will not be taking place at Canary Wharf, however, but in the warmer climes of Cannes, where all true developers are present at MIPIM, the international property fair. It would be curmudgeonly for anyone to ask what will happen to the Corporation's own docklands HQ, costing £1.5 million a year in rent until 2014 - thanks to the 25-year lease it foolishly signed in 1989.

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