Braeburn Estates’ plans for the £1.2Bn redevelopment of the Shell Centre site on London’s South Bank have been approved by Communities and Local Government Secretary Eric Pickles, with construction work to start this summer.
The estimated £1.2Bn scheme will create an average of 700 engineering jobs on site over six years, with some 1,630 workers at the peak of construction.
The 27 storey Shell Centre Tower will remain the centrepiece of the new site but will be complemented by eight new buildings, one of which will incorporate a further 245,000 sq ft of new offices and trading floors for Shell.
The scheme will create approximately 800,000 sq ft of office space in total (including the Shell Centre Tower). Furthermore 80,000 sq ft of new retail units, restaurants and cafés, will be accompanied by 800,000 sq ft of residential space incorporating up to 877 new homes.
Braeburn Estates is a joint venture between Canary Wharf Group and Qatari Diar. The 1.45 million sq ft mixed use project, comprising offices, residential and retail has been master planned by Squire and Partners.
Qatari Diar Group chief executive officer, Khaled Al Sayed said: “Our priority is to get this construction project moving, so that businesses, residents and visitors to the local area start to reap the benefits of this fantastic scheme as soon as possible.”
Sir George Iacobescu, Chairman and Chief Executive Officer, Canary Wharf Group, said: “We feel privileged to have this opportunity to play a role in regenerating this popular but somewhat neglected area of London.”
Director of the redevelopment for Shell, Richard Montgomery, said: “This redevelopment will enable us to continue to make a positive contribution to the South Bank and wider Waterloo area’s regeneration. It will also see Shell’s London staff all based in one location for the first time in many years.”
