Office Development Trades on London’s South Bank
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The British headquarters of Royal Dutch Shell (at right) will be preserved in the development of Southbank Place.
LONDON—Almacantar has continued making inroads into central London’s office sector, acquiring developments at One and Two Southbank Place from Braeburn Estates, a joint venture between Canary Wharf and Qatari Diar. At over £550 million, or approximately US$857 million, it’s said to be the largest property deal ever completed on the city’s South Bank.
Consisting of One and Two Southbank Place, Almacantar’s acquisition comprises the office component of the Southbank Place redevelopment, which will also have five residential buildings. Work on the redevelopment began last month; it will retain the 27-story Shell Centre office tower that Royal Dutch Shell has occupied since the early 1960s…
Office Development Trades on London’s South Bank
