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.
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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."
(CD/MH)
