British Land announces it has acquired Surrey Quays Leisure Park in Canada Water for £135 mln (approx. €185.9 mln) from clients of Aviva Investors.
This acquisition completes British Land’s assembly strategy at Canada Water where they also own Surrey Quays Shopping Centre and Harmsworth Quays, the former Daily Mail General Trust printing works.
The combined sites, assembled over the last five years for a total investment of £250 mln (approx. €344.3 mln), cover nearly 50 acres creating one of the largest mixed-use regeneration projects in London.
Canada Water has excellent existing transport infrastructure with Canada Water and Surrey Quays stations providing quick transfer times via the London Overground and the Jubilee Line to the City, Canary Wharf and the West End. The area will also benefit from the opening of Crossrail at Canary Wharf in 2018 which is one stop away on the Jubilee line.
We are working with Southwark Council on the Canada Water Masterplan to create a new mixed-use town center for the area. Architects Allies & Morrison have been appointed to advise as master planners for the scheme, which could include up to approx. 650,321 m² of office, retail, leisure, culture and residential space alongside higher educational and community uses.
Chris Grigg, Chief Executive of British Land, said: “This acquisition completes our assembly of a significant £2 bln (approx. €2.75 bln) 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 center.”
Source: British Land