PLANS TO redevelop the 1960s Shell Centre on the South Bank have been given the green-light by Lambeth council, in a move that could create more than 4,000 jobs.
The £1bn scheme is being developed by Braeburn Estates a 50:50 joint venture between Canary Wharf Group and Qatari Diar, who together paid £300m for the site last year.
The development will see 877 new homes, offices and shops built on the five acres of land surrounding the 27-storey tower, which will continue to be owned and occupied by Shell.
Eight other buildings will also be created, with the oil giant taking one of the sites for an extra 245,000 sq ft of office space.
The two new commercial buildings will support around 4,500 new jobs and around 1,500 construction jobs.
The developers plan to begin work on the site later this year, with completion expected by the end of 2019.
Shell first announced plans to rejuvenate the Shell Centre in 1997 but it was put on hold until 2011, when Qatari Diar and Canary Wharf won the development bid.