INDUSTRY NEWS

Canary Wharf Group’s mixed use scheme including London offices gets no

Canary Wharf Group has received planning permission for a major £1bn construction development involving eight towers.

Working alongside its partner Qatari Diar, a number of London offices as well as 877 homes are set to be included in the project.

The mixed use scheme is set to see a 1.45m sq ft revamp of the iconic Shell Centre Tower on Southbank. The buildings are set to range in size from five up to 37-storeys in height.

Designed by architect Squire & Partners, as well as a range of other architects, it is expected the mixed use scheme will include two office blocks, alongside three residential towers and two ‘slender’ towers as well as a new public square.

The tower, used by Shell as its international HQ since the 1960s ,will remain as a centre piece to the new buildings, but the firm will also move into a further 245,00 sq ft of London office space provided by one of the new buildings.

In a telephone interview with Bloomberg Canary Wharf Group managing director, John Pagano, said: “We’re very excited about the area, it’s almost the best-kept secret.

According to reports, developers have spent some £500m on real estate in the Southbank area in the last six months alone.

In a document recommending its approval, planning officials said: “The development would give rise to not only additional jobs in the borough, but would also contribute towards strategic objectives for London in its promotion as a world city.”

Work is set to commence at the end of this year, with completion expected at some point in 2019.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.