The developer is Braeburn Estates, which is a joint venture of Canary Wharf Group and Qatari Diar.
Construction will now start at the end of this year, with completion planned for 2019.
With Carillion simultaneously working on the £400m Battersea Power Station first phase, it looks like there will be no let up for construction in the capital.
The 1.45 million sq ft mixed use Shell Centre scheme, which has been masterplanned by Squire & Partners, will transform the 1960s office site, providing new offices for Shell and other companies, as well as hundreds of new homes. The value of the development is put at more than £1bn, reflecting the cost of purchasing the land and the cost to develop it.
The 27-storey tower will remain the centrepiece of the new site, and will continue to be owned and occupied by Shell. It will be complemented by eight new buildings, one of which will incorporate a further 245,000 sq ft of new offices and trading floors for Shell.
Approximately 800,000 sq ft of office space (including the Shell Centre Tower), along with around 80,000 sq ft new retail units, restaurants and cafés, will be accompanied by approximately 800,000 sq ft of residential space incorporating up to 877 new homes.
During the six-year construction phase, an average of 700 workers will be employed on site, rising to approximately 1,630 at peak.
Shell’s global HQ on London’s South Bank was built in 1961 to accommodate 5,000 employees. At the time, it was the biggest office block in Europe.
Sir George Iacobescu, chairman and chief executive, Canary Wharf Group, said: “We are delighted that Lambeth Council has approved these plans for us to work on such an important and historical site. We will continue to work with the London Borough of Lambeth and the local community as we move to the next phase of planning and development to ensure that all involved in the area get the best possible opportunities from this new development.”
The list of architects contributing to specific scheme buildings is as follows:
- Masterplan - Squire and Partners
- Building 1 - office use; Squire and Partners
- Building 2 - office use; Kohn Pedersen Fox Associates (KPF)
- Building 3 - residential use; Patel Taylor
- Building 4A & 4B - residential use; Squire and Partners
- Building 5 - residential use; Stanton Williams
- Building 6 & 7 - residential use; GRID Architecture
- Landscaping and public realm; Townshend Landscape Architects