Draft masterplan for Canary Wharf's Shell Centre revealed

The draft masterplan was unveiled during public consultations on the redevelopment last week and proposes draft plans for the 5.25 acre riverside redevelopment, including up to 800 new homes.

Canary Wharf Group and Qatari Diar have entered into a 50:50 joint venture, contributing £150m each to secure the 5.25 acre site on a 999 year lease. The payment for the site is conditional on planning permission being received for the project within three years.

Plans for the proposed redevelopment include two new office blocks, three residential blocks, two 'slender' towers and a new public square. The original 27 storey tower in the middle of the Shell Centre, built in the 1950s, is planned to be preserved and maintained by Shell.

The development is planned to include mixed uses, including office, retail and residential space. Up to 800 homes are planned and there is some provision for affordable homes.

A new office building and trading floor for Shell is planned to replace the existing wing building and additional retail, restaurants and cafes will also be built according to the plan.

Discussions will now commence with local planning authorities and relevant stakeholders to establish planning consent, the developers said. Consultations on the draft masterplan have been extended from last week and will now run for the majority of this week.

“Today we have chosen world acclaimed developers that have an excellent track record in delivering on projects of this size and scale” said Graham van’t Hoff, chairman of Shell UK. “This is a great step forward and represents considerable reinvestment in the South Bank."

"Shell Centre is our long-term home in London and we’re keen to start working with Canary Wharf Group, Qatari Diar and local stakeholders to develop and deliver a project that will benefit both London and the local community," he said.