Posts tagged British Land

British Land reaches key milestone in London redevelopment

British Land reaches key milestone in the redevelopment of Harmsworth Quays

The first step has been taken to allow the redevelopment of the 14.57 acre Harmsworth Quays printing works site in Canada Water, South East London, to go ahead.

Southwark Council has given its approval for the Daily Mail General Trust (DMGT) to assign its leasehold interest in the site to British Land.

The decision is a key milestone for the development which has the potential to deliver significant improvements to the local area and create new trade jobs.

Cllr Fiona Colley, Cabinet Member for Regeneration at Southwark Council, said: “In addition to new homes, the redevelopment of Harmsworth Quays has the potential to deliver the town centre and jobs that Rotherhithe really needs.”

British Land will now begin working up proposals in consultation with Southwark Council and the local community to realise the full potential of this important site. Vacant possession of the site will be available later this year following the relocation of DMGT’s printing operations to Thurrock.

Southwark Council, which is currently developing policy to guide the redevelopment, will be adopting a preferred option of its Area Action Plan in May for consultation. This will emphasise the council’s and community’s vision to create a mixed-use town centre at Canada Water.

Both Southwark Council and British Land have committed to exploring the potential to create a new campus for Kings College as part of the scheme, to complement their proposals for the adjoining site at the Mulberry Business Park.

Nigel Webb, Head of Development for British Land, said: “We are delighted that the London Borough of Southwark has agreed the assignment for Harmsworth Quays. We can now begin the process of working with the local community, the London Borough of Southwark and other key stakeholders to bring forward a new, mixed use development in the heart of Canada Water.”

Green Light for Building Construction Work in South London

Planning permission has been granted to develop a 111,000 sq.ft. extension to a shopping complex in South London, the Construction Enquirer reported today.

The joint venture between British Land and Tesco is also going to refurbish an existing 309,000 sq. ft. shopping centre at Canada Water, Rotherhithe Peninsula. The renovation, which is part of the £30 million investment plan for the area, will improve existing facilities and is expected to create new jobs.

The Construction Enquirer reported that improvements worth up to £4 million will be carried out around the centre. These are expected to improve connexions between Surrey Quays station and Canada Water tube and bus station, it was revealed.

Retail Development Manager at British Land, David Pollock, welcomed the extension of the shopping centre and emphasised the importance of the wider regeneration plan for area of Surrey Quays.

Mr Pollock said: “The extension and refurbishment will create additional space that will allow us to attract and accommodate new and exciting retailers, ensuring that Surrey Quays remains competitive in today’s market.”

Mr Pollock commented that the shopping experience in the area will be significantly improved for both existing and new customers

Construction work will start in spring 2013 and is expected to be completed by the summer of 2014.

What is your reaction to the new extension plan of the shopping complex in South London? Share your thoughts by leaving a comment below:  

Building Work for New UBS’s London HQ to Go Ahead

Swiss investment bank UBS has been granted permission for its new 700, 000 square foot building in the City of London.

The new £340 million headquarters of UBS in London’s financial district is expected to be completed by 2014, meaning it could create more jobs for people in the building construction sector.

The Swiss bank has signed a pre-letting agreement with developers British Land and Blackstone for the construction work to start in April this year. Demolition and site preparation work near Liverpool Street station is currently underway, leading publication, Construction Enquirer, reported today.

UBS is the largest tenant in the 30-acre Broadgate development in London’s City financial district which will include four trading floors that can be adapted into normal office space.

The new building will pay attention to sustainability using photovoltaics and solar thermal panels to generate green energy while rainwater harvesting will reduce water consumption.

British Land said: “Demolition of the existing 4 & 6 Broadgate buildings is well underway and will be completed in April; with delivery of the new bespoke building on schedule for the first quarter in 2014.

“The joint venture has already placed or tendered around 60% of the project’s construction costs within budget and programme.”

Tim Roberts, Head of Offices for British Land, told Construction Enquirer: “This is another significant milestone in the development of the new UBS building at 5 Broadgate and a real boost for the City.

“The Broadgate estate continues to evolve to serve the needs of a range of city occupiers and the 30,000 people based there.” – Mr Roberts added.

The two developers, British Land and Blackstone, said UBS will occupy the new building for period of around 18 years.

Do you welcome the move of the Swiss bank giant UBS to build its headquarters in London? What does the £340 million investment mean for the building construction sector? Share your thoughts with us by leaving a comment below:

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