INDUSTRY NEWS

Plans unveiled to revamp South Bank with new London office buildings

Plans for a major revamp of London’s South Bank area have been unveiled today.

The proposal will see the construction of a new mixed-use development featuring a host of offices, as well as home and retail space – with the Shell Centre Tower at its heart.

The site will be developed jointly by Canary Wharf Group (CWG) and Qatari Diar as they look to build a host of new London offices along South Bank, which will also be connected by new pedestrian routes to the nearby Waterloo station.

Eight new buildings are planned for the area and in total the development will see approximately 800,000 sq ft of new London office space built, as well as around 80,000 sq ft of new retail units and around 800,000 sq ft of residential space.

Chairman and chief executive of CWG, Sir George Iacobescu, said: “It is a privilege to have the opportunity to work on such a historically interesting and important site as the Shell Centre.

“Our vision is of a beautiful place to live and work in the cultural heart of the most exciting city in the world.”

The CEO of Qatari Diar group, Mohammed bin Ali Al Hedfa, said: “Our aim is to enhance an area in need of a renaissance, with a new mixed use development of which London can be truly proud.

“We are confident that our proposed development will put a reinvigorated South Bank at its rightful place, at the capital’s heart.”

The development is set to be completed in 2019.

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

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