Member Article

Centre Point owner acquires South Bank offices in £550m deal

The developer which owns Centre Point has acquired a South Bank office development for £550m.

One and Two South Bank Place, which is located at the controversial £13.bn Shell Centre revelopment, has been bought by Almancater from Braeburn Estates - a Canary Wharf and Qatari JV.

The buildings, which are expected to be completed in 2018, will provide more than 500,000 square feet of office space, according to the Standard.

The acquisition follows a planning dispute over the development which came to an end in June.

Mike Hussey, chief executive of Almacantar, said: “We feel that the area around Waterloo Station has the potential to grow into one of the best mixed use destinations in London.”

This was posted in Bdaily's Members' News section by Ellen Forster .