REG - British Land Co PLC - Canada Water Asset Tour

British LandAnnouncement

28/02/2022 10:30

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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.£3.6bn (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.£5.6bn 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
(https://www.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 £13.3bn (British Land share: £9.8bn) 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 (http://www.britishland.com)    

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