Developer British Land said yesterday it has bought the last of the sites for its £2bn regeneration project in Canada Water – paying £135m for Surrey Quays Leisure Park from Aviva Investors.
The FTSE 100 developer has quietly amassed over 50 acres of land in Canada Water over the last five years and is spending £250m to create one of London’s largest regeneration projects.
It bought Harmsworth Quays, the Daily Mail & General Trust’s former printing works site in 2012, and also owns Surrey Quays shopping centre after buying out Tesco’s 50 per cent stake in 2013.
The company said it is collaborating with Southwark Council to create a new mixed-use town centre for the area. Architects Allies & Morrison have been appointed to design the masterplan for the scheme, which could include up to 7m square feet of offices, shops, restaurants and flats as well as space for “higher educational uses”.
Chris Grigg, British Land chief executive, said: “This acquisition completes our assembly of a significant £2bn world-class development opportunity in the heart of one of London’s major regeneration zones.”
“We look forward to continuing our partnership with Southwark Council to create a vibrant new mixed use office, retail and residential campus for Canada Water including a new town centre,” he added.