Lambeth Council gives Shell Centre plans the green light

Wednesday 22 May – Media Release

Lambeth Council gives Shell Centre plans the green light

The London Borough of Lambeth has approved the planning application by Braeburn Estates to redevelop the Shell Centre on London’s South Bank.

Braeburn Estates is a joint venture of Canary Wharf Group and Qatari Diar. The 1.45 million sq ft mixed use scheme, which has been masterplanned by Squire and Partners, will transform the 1960s office site, providing new offices for Shell and other corporate organisations as well as hundreds of new homes and new retail outlets. It will make a significant contribution to the on-going regeneration of the Waterloo and South Bank area.

A mix of offices, homes and retail space will integrate with open and attractive public areas, with the iconic Shell Centre Tower at its heart.

The 27-storey Tower will remain the centrepiece of the new site, and will continue to be owned and occupied by Shell. It 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.

Approximately 800,000 sq ft of office space (including the Shell Centre Tower), along with around 80,000 sq ft new retail units, restaurants and cafés, will be accompanied by approximately 800,000 sq ft of residential space incorporating up to 877 new homes, including affordable housing.

The highly sustainable development is planned for completion in 2019, with construction starting at the end of this year.

Under the approved plans, new pedestrian routes through the site will improve connections between Waterloo Station and the South Bank. A widened Chicheley Street will open up the approach to the London Eye, while a ‘city square’ at the heart of the scheme will provide open space and enhanced public realm.

The 50:50 mixed use scheme presents a welcome contrast to the residential-focused developments dominating London. The construction project, which will continue over an anticipated six-year period, will employ an average of 700 workers on-site rising to approximately 1,630 at the peak of construction.

Once construction is complete, the redevelopment will significantly increase the number of jobs on site with more than 6,000 people expected to be employed between the two new commercial buildings and the Shell Centre Tower. The additional commercial space in the redevelopment will extensively expand the Shell London head office, allowing all of their 4,000 London based staff to be located in the same office for the first time.

The two new commercial buildings in the proposed redevelopment will accommodate approximately 4,120 office-based jobs, up to 295 retail jobs, and around 50 jobs in the community and leisure areas, totalling up to 4,465 jobs.

This presents new opportunities for employment both during construction and in long-term jobs around the South Bank.
Sir George Iacobescu, Chairman and Chief Executive, Canary Wharf Group, said: “We are delighted that Lambeth Council has approved these plans for us to work on such an important and historical site.

“We will continue to work with the London Borough of Lambeth and the local community as we move to the next phase of planning and development to ensure that all involved in the area get the best possible opportunities from this new development.”

Qatari Diar Group Chief Executive Officer Khaled Al Sayyed, continued: “Our development will be a unique place to live and work in the centre of London, providing locals and visitors alike with much needed public space, entertainment and culture.”

Ed Daniels, Country Chair, Shell UK, said: ‘This approval is an extremely positive step for a development that will not just regenerate Lambeth and provide vitality to the local community, but also secure the long-term future for Shell and it’s London based staff on the South Bank.’

More than 1,000 local people, businesses and visitors have shared their views on the future development, through an extensive, year-long community consultation, which has helped to shape the scheme masterplan.

ENDS

Notes to editors:

The list of architects contributing to specific scheme buildings is as follows:
• Masterplan – Squire and Partners
• Building 1 – office use; Squire and Partners
• Building 2 – office use; Kohn Pedersen Fox Associates (KPF)
• Building 3 – residential use; Patel Taylor
• Building 4A & 4B – residential use; Squire and Partners
• Building 5 – residential use; Stanton Williams
• Building 6 & 7 – residential use; GRID Architecture
• Landscaping and public realm; Townshend Landscape Architects

For further media enquiries, please contact:

Press Office
Canary Wharf Group plc
T: 020 7418 2000
E: pressoffice@canarywharf.com

About the Shell Centre Redevelopment

In July 2011 developers Qatari Diar and Canary Wharf Group signed an agreement with Royal Dutch Shell to redevelop the Shell Centre site on London’s South Bank. The developers will take the 5.25 acre site on a 999 year lease, with Shell remaining the freeholder. The development will be mixed use comprising office, retail and residential space, subject to public consultation and planning consent.

The well-known, 27 storey tower in the middle of the Shell Centre is retained and occupied by Shell. Shell will also take a 245,000 sq. ft. pre-let of one of the new office buildings to be constructed on the site. Shell is committed to returning its entire London workforce back to the redeveloped site on completion.

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 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 15 m sq ft of office space; more than any other company in London. These buildings are occupied by over 95,000 people. The Shell Centre will be The Group’s fourth project away from the Canary Wharf Estate, following the successful completion of Pan Peninsula, Drapers Gardens and ongoing construction of 20 Fenchurch Street (Walkie Talkie) in the City of London, which is in a joint venture with Land Securities. 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 200 shops, bars, cafes and restaurants including many of Britain’s leading brands. Canary Wharf Group has been named one of the Sunday Times 60 Best Green Companies in the UK since 2008, was the Property Week Offices Developer of the Year 2010 and also won the Christie’s 2010 Award for Best Corporate Art Collection and Programme at the International Art and Work Awards. 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

About Squire and Partners

Squire and Partners are an award-winning architectural practice who have been designing and executing buildings on key sites in London and internationally for over 35 years. The practice’s approach to design assumes that every site has its own history, character and needs. Derived from a sense of place, buildings respond to underlying themes of materiality, scale and proportion which are common to their locations, whilst revealing a commitment to contemporary design and detailing. Key projects include the Chelsea Barracks masterplan, One Tower Bridge, the Reiss Headquarters and the Knightsbridge Apartments. www.squireandpartners.com