Canary Wharf Group to redevelop Shell Centre

Grant Prior 11 years ago
Share

Canary Wharf Group and Qatari Diar Real Estate Investment Company have signed a deal to redevelop the Shell Centre site on London’s South Bank.

The deal will see both sides stump-up £150m each to secure the 5.25 acre site and transform it into a major mixed-use development.

Canary Wharf Group will act as the Construction Manager for the project and will also be Joint Development manager with Qatari Diar.

The deal represents Canary Wharf’s second major move into central London following its joint venture with Land Securities on the “Walkie Talkie” in the City.

Detailed plans for the Shell Centre site will now be drawn up to contain office, retail and residential space built around the famous 1950s, 27 storey tower in the middle of the Shell Centre which will be preserved and retained by the oil giant.

George Iacobescu , Chairman and Chief Executive of Canary Wharf Group plc said: “It is both a privilege and a great responsibility to be involved in this redevelopment project which will re-energise a key part of this area of London.

“We look forward to working with our partner Qatari Diar, the local community and with Shell to enhance the London economy and the vibrancy of the South Bank.”

Latest news

Construction arm propels Mace to record profit

Revenue expected to top £2bn this year despite project delays
20 hours ago

Fire destroys conveyor belt at Silvertown Tunnel site

Forty firefighters battle blaze at huge London site
9 hours ago

Social housing bidding opens for £1.5bn energy retrofit cash

First upgrades of social housing stock could start from early next year
20 mins ago

Plan for £58m Bristol pharma R&D facility approved

Willmott Dixon in line to build the R&D facility at Bristol & Bath Science Park
34 mins ago

Bond Street Elizabeth line station to open next month

Final station on delayed line will welcome passengers in October
26 mins ago

Sisk fixes price on £227m Quintain flats job

Quintain signs single-largest contract so far at Wembley Park
21 hours ago

Green light for St Helens town centre revamp

English Cities Fund to start phase 1 next April
1 hour ago

Rising costs tip William Hare to £3.6m loss

Specialist contractor falls into the red despite near 60% revenue rise to £220m
2 days ago

Safety blitz on “aches, pains and strains” on site

1,000 site visits planned in coming months to check how workers are moving heavy or bulky materials
2 days ago

Drones sent flying underground to check sewers

Traditional inspection teams replaced with latest technology
1 day ago

Plan submitted for 470 Preston flats scheme

Stoneygate Central scheme on Dryden Mill site will rise to 16 storeys
1 day ago

Graham starts £124m M25 Junction 28

Work on the 36-month Junction 28 upgrade includes constructing a major two-lane loop road
24 hours ago

Keltbray bags brace of energy infrastructure wins

Civils work on huge converter stations worth £30m to specialist
2 days ago

Balfour Beatty sole winner for £4bn Scape civils deals

Contractor reappointed to England, Wales and Northern Ireland and separate Scottish deals
2 days ago

PR expert Baroness Rock to chair Costain

Kate Rock will take up senior board role at the end of the year
2 days ago

Billington profit upgrade after strong first-half

Steelwork contractor says weaker pound will allow it to reignite its old export markets in Europe
2 days ago

Green light for £120m Liverpool “super restaurant”

Historic Pumphouse at Stanley Dock to be transformed
3 days ago

Tolent bags £15m Sunderland skills academy

Work to start later this year on Housing Innovation and Construction Skills Academy
2 days ago

Government launches net zero review

Pro-growth and pro-business review of net zero 2050 target launches
3 days ago

L&G Modular wins 400-home Wolverhampton job

Modular specialist wins 17-acre Canalside South regeneration scheme
3 days ago

£1.2bn A12 upgrade accepted for planning

15-mile Essex road upgrade between Chelmsford and Colchester aims for 2023/24 start
3 days ago

US consultant trumps WSP bid for RPS Group

Tetra Tech swoops but WSP could come back with new offer if bidding war breaks out
3 days ago

Sisk hands staff £900 cost of living cash boost

Firm also promises staff £400 Christmas voucher in November
3 days ago

Loathed IR35 reforms scrapped by Chancellor

Contractors will no longer have to determine tax status of freelance workers
6 days ago

Higgins signs deal for 740 West London homes

Work to start this autumn on two Hayes housing estate rebuilds
3 days ago

Kier wins Sefton net zero £36m school job

Deyes High School in Maghull will consist of 60 classrooms
3 days ago

Giant TBM cutterhead takes road trip to second drive

Balfour Beatty Vinci to drag remaining TBM back through tunnel for second bore
6 days ago

Fast-track 138-project growth plan – full list

Chancellor banks on road projects to lead growth plan recover
6 days ago

Kwarteng backs construction to lead “new era for Britain”

Planning rules to be ripped-up to speed infrastructure work as 38 new Investment Zones created
6 days ago

Green light for next two Manchester NOMA jobs

Work to start early next year on first of two major office buildings
6 days ago

Contractor services