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The Shell Centre, situated on London’s ever popular South Bank has now received planning approval for its redevelopment. The plan is to completely transform the 1.45million sq ft of tired 1960’s office space. The site will provide new offices for Shell as well as providing office space for other businesses, hundreds of new homes and retail space.
Shell will continue to own the 27 storey building; however under the proposed plans by Braburn Estates (a joint endeavour under the Canary Wharf Group and Qatari Diar) there will be the redevelopment of open public areas. The chairman and chief executive of Canary Wharf Group, George Lacobescu has stated how he is delighted at the fact that Lambeth Council has now approved plans on such a historical site that has so much potential to give back to the community. While Khaled Al Sayyed, the Chief Executive Officer of the Qatari Diar Group has stated that this development will provide workers in the centre of London somewhere unique and interesting to work as well as provide the local public and visitors public space to enjoy.
This scheme will really provide the area with greatly needed office space within the South Bank area. Shells tower will be accompanied by eight new buildings and one of these buildings will provide a further 245,000 sq ft of new offices and also trading floors for Shell.
The redevelopment scheme has proposed to provide 800,000 sq ft of office space – including the 27 strorey high tower as well as 80,000 sq ft of retail space and restaurants and cafes. There will also be 800,000 sq ft of residential space including affordable housing which will provide approximately 877 new homes to the Capital.
Construction for all of the above is due to start at the end of this year and the development is planned to be complete by 2019. The development will include new pedestrian routes throughout the site and there will be improved connections between Waterloo station and the South Bank. A City Square will be introduced to provide open space to the public as well as a route on Chicheley Street opened up and made wider to provide easy access to the London Eye.
This major redevelopment scheme will help to alleviate the current unemployment rate in London, employing an average of 700 workers which should peak to around 1,630 members of staff at the most busiest point of construction. The actual redevelopment once it is completed should employ more than 6,000 members of staff. Shell will be able to expand its head offices to around 4,000 people within its London based office. In detail the two new commercial blocks to be built will accommodate approximately 4,120 jobs within an office, as well as 295 retail jobs and 50 jobs in the community and leisure sectors – totalling to around 4,465 jobs.
Morgan Pryce is a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.