Wednesday 2 August 2017 – Media Release
First Wave Of Retailers Check In To Landmark London Development
- Marks & Spencer, Gail’s Bakery, Knight Frank and Boots are the first confirmed retail tenants at the iconic Southbank Place development
- Over 18,800 sq. ft. of retail space to be occupied by the four major brands
- Marks & Spencer to open 10,000 sq. ft. food store anchor
- The South Bank is visited by over 22 million tourists each year, with influx of new residents, workers and increased footfall through to Waterloo set to create London’s most vibrant destination
- The 5.25 acre mixed-use site that surrounds the Shell building will in total provide 48,000 sq. ft. of shops, restaurants and bars, plus 530,000 sq. ft. of office space once complete
Set to become one of London’s most exciting new riverside destinations, Southbank Place has signed its first wave of high-profile tenants. Leading British retailer Marks & Spencer, Gail’s Bakery, Boots, as well as prime estate agent Knight Frank have all taken prominent retail units on the 5.25 acre Southbank Place surrounding the Shell building. The multinational businesses will occupy over 18,800 sq. ft. of retail space combined, in the first phase of the development, providing unrivalled services to locals, residents and visitors.
Upon completion of the development Marks & Spencer will open a larger format, 10,000 sq. ft. food store providing a full and wide-ranging offering of fresh produce and high-quality groceries.
Marks & Spencer will be complemented by artisan baker, Gail’s Bakery launching a 1,185 sq. ft. outlet, bringing an award-winning range of freshly-baked breads, pastries and cakes, as well as a full-service café. Boots will occupy a unit of almost 5,000 sq ft., while Knight Frank will open its flagship office at Southbank Place, taking a 2,410 sq. ft. unit.
Visited by over 22 million people each year, the South Bank is one of London’s most popular tourist destinations, with Southbank Place set to become the jewel in the crown of the area. The development, which features seven beautifully designed buildings, will include a prominent piazza and collection of public squares providing the perfect destination to live, work and relax.
Stuart Fyfe, Head of Retail Leasing at Canary Wharf Group, said: “There has been a lot of interest in the retail and commercial space at Southbank Place and we couldn’t be happier to be unveiling this exciting collection of new tenants so early into the construction process. The new retail outlets are the perfect fit for what we’re looking to deliver, offering fantastic onsite amenities for the thousands of people that will live, work and visit in the years to come.”
Commenting on the announcement, Richard Oakes, Sales & Marketing Director, Europe, Qatari Diar Real Estate Investment Company, stated: “To be able to welcome some of the best-known names in retail to Southbank Place, two years before completion, is testament to the attractiveness and prominence of the development. Situated between the South Bank and Waterloo, Southbank Place will become a destination in itself with residents and visitors providing incredible foot flow across the site.”
Harry Chichester, Asset Director, Almacantar, commented: ““The South Bank is already London’s leading cultural destination and these lettings will further cement Southbank Place as an impeccable area to live, work and enjoy. Along with Shell and WeWork, we look forward to welcoming the tenants to One and Two Southbank Place next year.”
The announcement of the new retail occupants at Southbank Place follows the recent deal by Almacantar to let over 280,000 sq. ft. of office space at Two Southbank Place to WeWork, the innovative shared workspace provider.
Developed by Braeburn Estates, a joint venture between Canary Wharf Group plc and Qatari Diar Real Estate Investment Company, the site will in total provide 48,000 sq. ft. of shops, restaurants and bars, plus 530,000 sq. ft. of office space, and a direct entrance to London Waterloo Station. Almacantar will be the landlord of One and Two Southbank Place.
The mixed use scheme is a major source of job creation, presenting new opportunities for employment both during construction and in the long-term. Once completed the development is expected to provide over 6,000 jobs, while the construction project will continue over the next two years and is anticipated to have supported over 13,000 construction and supply chain jobs over the lifetime of the build process.
Currently in its third phase, Southbank Place’s latest residential offering is Belvedere Gardens, a collection of 97 apartments arranged across conjoined 10 and 20 storey buildings. These design-driven apartments will vary in price and size, with all one-bedroom apartments sold, two-bedroom apartments start from £2.145 million.
Purchasers at Southbank Place will benefit from the highest quality of living, with access to over 18,000 sq. ft. of residents-only amenities floor, which will include his and hers steam and sauna rooms, a gymnasium, a 25-metre swimming pool, treatment rooms, wet room and gym classes. Residents will also be able to make use of an outdoor terrace and residents’ lounge, ideal for social gatherings and business meetings alike.
For further information on Southbank Place or to book an appointment in the marketing suite visit www.southbank-place.com or call 020 7001 3600.
Notes to editors
About Southbank Place
Southbank Place is being developed by Braeburn Estates, a joint venture between Canary Wharf Group plc and Qatari Diar Real Estate Investment Company.
About Qatari Diar
Qatari Diar is a global leader in sustainable real estate, building landmark projects of unrivalled scope and vision. We create vibrant communities dedicated to capturing the hearts and imaginations of the people we serve. These developments are conceived from our commitment to preserving and reflecting local characters and traditions and our visions have created places with a sense of identity and purpose where people aspire to live, work and visit.
Qatari Diar’s European operation is based in London, and boasts several key local projects, including a landmark residential development at the 12 acre Chelsea Barracks site in Belgravia; Southbank Place, a mixed-use joint venture between Qatari Diar and Canary Wharf Group situated in a prime central London location on the south bank of the River Thames; 30 Grosvenor Square, the current US Embassy in London, which will become a luxury hotel, retail and event space; and East Village & Elephant Park, a joint venture with Delancey and APG, offering more than 4000 private residential apartments for rent.
Qatari Diar seeks to harness the world’s greatest architectural and design talent in order to create sustainable communities that will stand the test of time.
About Canary Wharf Group
Canary Wharf Group plc has overseen the largest urban regeneration project ever undertaken in Europe, designing and building more than 17m sq ft of London real estate, which now houses local and international companies and renowned retailers.
The Canary Wharf Estate is a major retail destination comprising around 1m sq ft across five shopping malls, including the award-winning leisure development, Crossrail Place, housing one of London’s most stunning roof gardens. It also has world-class, year-round arts and events programme offering over 200 diverse and culturally inspiring events performed throughout the Estate.
Canary Wharf Group is a wholly owned joint venture between Brookfield Property Partners and the Qatar Investment Authority.
Almacantar is the leading Central London property investment and development company. It specialises in large-scale, complex investments in Central London, with the potential to create long-term value through development, repositioning or active asset management.
Almacantar launched in 2010 and owns over 1.5 million sq. ft. of prime assets in the heart of London including Centre Point, Marble Arch Place, CAA House, One and Two Southbank Place and 125 Shaftesbury Avenue. Its management team has a track record second to none.
Centre Point, Marble Arch Place and Southbank Place represent approximately one million sq.ft. of new development aimed specifically at the central London markets of the West End and South Bank where supply of high quality mixed-use schemes is constrained.