26 February 2015 – Media Release

High Court Dismisses Challenge to Secretary of State’s Decision to Approve Shell Centre Redevelopment

The High Court has today dismissed a challenge to the Secretary of State’s decision to approve plans for the redevelopment of the Shell Centre site on London’s South Bank.

Today’s dismissal in the High Court by Justice Collins follows a challenge to Secretary of State Eric Pickles’ decision in June 2014 to approve plans by Braeburn Estates, a joint venture between Canary Wharf Group plc and Qatari Diar, for the 1.45 million sq ft mixed use Shell Centre scheme.

In a joint statement, Braeburn Estates said: “We are pleased that the challenge to the Secretary of State’s decision to grant our planning application to redevelop the Shell Centre has been dismissed. We strongly believe that our redevelopment of this important site will be a catalyst for the regeneration of Waterloo, creating thousands of jobs and hundreds of homes, which in turn will benefit London and the UK.

“The planning application has been through a thorough and comprehensive process including a public inquiry and has been supported by Lambeth Council, the Mayor for London, the Planning Inspector and the Secretary of State. The Secretary of State’s decision to grant planning permission has now also been upheld by the High Court and we welcome Justice Collins’ decision not to grant leave to appeal. We are hopeful that this is the final stage in the extremely rigorous planning process around this development, and we look forward to commencing work in the near future.”

Sir Edward Lister, Deputy Mayor for Planning said: “It is good news for south London that this unnecessary and hugely-expensive legal challenge has been dismissed. This scheme will provide a huge economic boost for Lambeth and paves the way for hundreds of much needed new homes and jobs. After such lengthy delays, I hope that this is the end of the legal process and that work can begin on this important development.”

The 27-storey Shell Centre Tower will remain the centrepiece of the new site and will continue to be owned and occupied by Shell. It will be complemented by new buildings comprising 580,000 sq ft of office and retail space and 820,000 sq ft of residential space. The site has been master planned by Squire and Partners and phased construction of this highly sustainable development is due to commence later in 2015.

ENDS

For further media enquiries, please contact:

Elizabeth Adams, Canary Wharf Group
Tel: + 44 (0) 20 7477 1000
Email: Elizabeth.adams@canarywharf.com

Charlie Hampton, Bell Pottinger
Tel: + 44 (0)20 3772 2519
Email: champton@bellpottinger.com

Notes to editors:

About Canary Wharf Group plc:
Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail, residential and leisure facilities in central London. Over the past 20 years Canary Wharf Group has regenerated derelict wharves into one of the world’s premier business and shopping districts, constructing over 16m sq ft of office space; more than any other company in London. These buildings are now occupied by 105,000 people.

Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 300 shops, bars, cafes and restaurants including many of Britain’s leading brands.

In addition to development on the Canary Wharf Estate, the Group is also involved with projects across London. The Pan Peninsula and Drapers Gardens developments, and 20 Fenchurch Street (Walkie Talkie) in the City of London which is nearly fully let, have been successfully completed. www.canarywharf.com

About Qatari Diar Real Estate Investment Company:
Wholly owned by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, Qatari Diar Real Estate Investment Company was established in February 2005 to support Qatar’s growing economy and to co-ordinate the country’s real estate development priorities. Qatari Diar is currently involved in more than 39 signature projects in more than 21 countries around the world with a combined value of over $35bn.

Qatari Diar is becoming established as one of the world’s most trusted and respected real estate companies because of its commitment to quality, local community, partnership and hallmark sustainability. Qatari Diar’s hallmark vision of sustainable development places community and local traditions at the forefront. The company aims to create and manage property investments and developments which not only comply with the best international standards, but which also strongly reflect local culture and values. As a result, Qatari Diar’s projects deliver a distinctive and sustainable social, economic and environmental benefit to the community. In addition, Qatari Diar often enables local and international developers and investors to partner in its projects, and to work together in exploring other opportunities, both locally and internationally. www.qataridiar.com