Ground broken on £1bn Southbank Place mixed-use project in London

WCN Editorial Team 3 May 2016 EUROPE BUILDINGS

Braeburn Estates, a joint venture between Canary Wharf Group and Qatari Diar Real Estate Investment Company, has broken ground on the £1bn Southbank Place mixed-use development at London's Shell Centre tower site.


The Shell Tower will anchor the development that will feature five residential buildings and two buildings for business use.

Canary Wharf Group said that 80% of the apartments, equating to 800 units, in five buildings are already sold. The two business buildings will total up to 530,000sq ft. Southbank Place will also house 48,000sq ft of retail outlets, restaurants and cafés.

The project is expected to create over 13,000 construction and supply chain jobs in total and when completed, Southbank Place is expected to employ over 6,000 workers.

Canary Wharf Group CEO Sir George Iacobescu said: "This is an area that has long been neglected, but will offer the best of all worlds, from the bustling culture of the South Bank to some spectacular views of the most recognised landmarks in the Capital, the Houses of Parliament and Big Ben.

"Southbank Place is also playing a major role in the development of the local community by creating new jobs, providing affordable housing and stimulating the growth of local businesses through our South London Procurement Network initiative."

Construction work is slated to be complete by 2019.

 

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