Five-year programme of demolition and construction could begin before Christmas.
The redevelopment of the Shell Centre – approved by Lambeth councillors in May – could begin in a matter of months after Mayor of London Boris Johnson rubber-stamped the proposals by Canary Wharf Group and Qatari Diar.
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.
The development is expected to take five years to complete.
“By approving our exceptional plans for the Shell Centre site, the Mayor has taken us one step closer to a development which will bring fantastic opportunities to this area of the South Bank,” said Sir George Iacobescu, chairman and chief executive of Canary Wharf Group.
“This landmark step means that we can keep moving forward towards commencing work on site later this year.
“It has been fantastic to see such engagement from people in the local community throughout our extensive consultation process.
“We will continue to work closely with them to ensure that we understand local needs and continue to find ways for this development to benefit everybody in the area.”
The South London Procurement Network – which matches local businesses up with those letting contracts on behalf of major developers in the area – is one initiative created by the Shell Centre partners.
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