Plans to redevelop the UK headquarters of oil giant Royal Dutch Shell have been approved, the joint venture behind them has announced.
The 1.45million square-foot scheme will transform the 1960s office site on London’s South Bank, providing new accommodation for Shell and other businesses plus hundreds of new homes and shops.
Braeburn Estates plans to create open and attractive public areas, with the 27-storey Shell Centre tower remaining at the heart of the development.
It will continue to be owned and occupied by Shell and be complemented by eight new buildings, one of which will incorporate a further 245,000 sqft of new offices and trading floors for the company.
About 800,000 sqft of office space, including the tower, plus about 80,000 sqft of new shops, restaurants and cafes, will be accompanied by about 800,000 sqft of residential space incorporating up to 877 homes.
The development is planned for completion in 2019, with construction starting at the end of this year.
New pedestrian routes through the site will improve connections between Waterloo railway station and the South Bank, while a “city square” at the heart of the scheme will provide open space.
The construction project will employ an average 700 workers, rising to about 1,630 at its peak.
Once building work is finished, the redevelopment will increase the number of jobs on site to more than 6,000.
Shell’s extra space will extensively expand its head office capacity, allowing all of its 4,000 London-based staff to be in the same offices for the first time.
Braeburn Estates is a joint venture between the company behind the transformation over several decades of Canary Wharf, in London, and Middle East-based property investor Qatari Diar.
Canary Wharf Group chief executive Sir George Iacobescu said: “We are delighted that Lambeth Council has approved these plans for us to work on such an important and historical site.”
Qatari Diar CEO Khaled al Sayyed said: “Our development will be a unique place to live and work in the centre of London, providing locals and visitors alike with much-needed public space, entertainment and culture.”
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