British Land Co PLC Canada Water Asset Tour (0168D)
28 Febbraio 2022 - 11:30AM
UK Regulatory
TIDMBLND
RNS Number : 0168D
British Land Co PLC
28 February 2022
Canada Water Asset Tour
28 February 2022
British Land is today hosting an asset tour for investors and
analysts at Canada Water, our exciting 53 acre redevelopment scheme
in the London Borough of Southwark.
The event will incorporate a tour of the site and a presentation
from senior management which will provide more detail on the Canada
Water Masterplan, including indicative phasing. The scheme has a
total development cost of c.GBP3.6bn (excluding land and interest)
spread over five phases, the first of which we committed to in
October and is expected to complete in Q3 2024. The whole scheme is
expected to deliver a net development value of c.GBP5.6bn at
completion. We are now one year into a ten year programme for which
we will target annual development returns in the low teens.
The event will not be webcast but presentation materials are
available on our website
britishland.com/investors/results-reports-presentations .
About Canada Water
The Canada Water Masterplan is one of the largest ever and most
sustainable regeneration projects in London. Covering 53 acres, it
is centrally located in Zone 2 on the Jubilee Line and London
Overground, making it easily accessible from London Bridge, the
West End, Canary Wharf and Shoreditch.
British Land achieved full planning permission for the 5m sq ft
scheme in 2020. This consent is highly flexible, enabling us to
deliver between 2,000 and 4,000 new homes alongside a mix of
commercial, retail and community space. We are on site with the
first three buildings covering 582,000 sq ft including 265 new
homes. Sustainability is central to the Masterplan. Over 35% of the
Masterplan will be public realm and we are delivering 12 acres of
new open space including a 3.5 acre park. Our developments will
target the highest environmental standards including BREEAM
Outstanding on the Commercial space, BREEAM Excellent on the retail
and Home Quality Mark Beta 3* for residential.
Throughout the planning process, British Land engaged
extensively with the local community including over 120 public
consultations and local outreach events attracting over 5,000
individuals. We worked with the London Borough of Southwark to
develop a Social Regeneration Charter which captures local
residents' priorities for the Masterplan which is now a model for
development across the borough.
British Land will not be disclosing any material new information
at the event.
Enquiries:
Investors & Analysts:
Jo Waddingham 07714 901166
Media:
Lizzie King 07808 912784
Notes to Editors
About British Land
Our portfolio of high quality UK commercial property is focused
on London Campuses and Retail & Fulfilment assets throughout
the UK. We own or manage a portfolio valued at GBP13.3bn (British
Land share: GBP9.8bn) as at 30 September 2021 making us one of
Europe's largest listed real estate investment companies.
We create Places People Prefer, delivering the best, most
sustainable places for our customers and communities. Our strategy
is to leverage our best in class platform and proven expertise in
development, repositioning and active management, investing behind
two key themes: Campuses and Retail & Fulfilment.
Our three Campuses at Broadgate, Paddington Central and Regent's
Place are dynamic neighbourhoods, attracting growth customers and
sectors, and offering some of the best connected, highest quality
and most sustainable space in London. We are delivering our fourth
campus at Canada Water, where we have planning consent to deliver 5
million sq ft of residential, commercial, retail and community
space over 53 acres. Our campuses account for c.70% of our
portfolio.
Retail & Fulfilment accounts for 25% of the portfolio and is
focused on retail parks which are aligned to the growth of
convenience, online and last mile fulfilment. We are complementing
this with urban logistics primarily in London, focused on
development-led opportunities.
Sustainability is embedded throughout our business. In 2020, we
set out our sustainability strategy which focuses on two
time-critical areas where British Land can create the most benefit:
making our whole portfolio net zero carbon by 2030, and partnering
to grow social value and wellbeing in the communities where we
operate.
Further details can be found on the British Land website at
www.britishland.com
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