Tuesday 18 July 2013 – Media Release

Mayor of London approves Shell Centre Scheme

The Mayor of London, Boris Johnson, has lent his support to proposals to redevelop the Shell Centre site on South Bank.

Yesterday, the GLA gave the green light to the 1.45 million sq ft scheme, by joint venture developers Canary Wharf Group and Qatari Diar.

The decision represents further significant progress for the scheme, after it was approved by Lambeth Council’s Planning Committee in May.

The plans will transform the 1960s office site into a mixed-use development comprising offices, homes and retail space, integrated with open and attractive public areas.

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.

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

The highly sustainable development, which will improve pedestrian access between Waterloo Station and the South Bank, is planned for completion in 2019, with construction starting at the end of this year. It is anticipated that the project 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.
Local businesses are already seeing the benefits of the development, through the South London Procurement Network – a not-for-profit organisation set up by Canary Wharf Group and Qatari Diar last year to work with small to medium enterprises to help them access and bid for contracts from major businesses and projects in the area.
Sir George Iacobescu, Chairman and Chief Executive, Canary Wharf Group, said: “By approving our exceptional plans for the Shell Centre site, the Mayor has taken us one step closer to a development which will bring fantastic opportunities to this area of the South Bank. This landmark step means that we can keep moving forward towards commencing work on site later this year.

“It has been fantastic to see such engagement from people in the local community throughout our extensive consultation process. We will continue to work closely with them to ensure that we understand local needs and continue to find ways for this development to benefit everybody in the area.”

Qatari Diar Group Chief Executive Officer Khaled Al Sayyed, continued: “Our development will be a major asset for London, representing a unique balance of residential and commercial space to provide locals and visitors alike with much needed public areas, entertainment and culture.”

ENDS

Notes to editors:

Picture caption: a CGI of the Shell Centre redevelopment.

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 100,000 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 240 shops, bars, cafes and restaurants including many of Britain’s leading brands. Canary Wharf Group , 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