British Land expands Canada Water holdings

Developer British Land has announced the purchase of Surrey Quays Leisure Park, in south east London, adding to its existing holding in the area.

British Land said it paid Aviva Investors £135m for the development, which houses restaurants, a cinema, and a bowling alley. It already owns Surrey Quays Shopping Centre and Harmsworth Quays, the former Daily Mail General Trust printworks.

The developer said the land it had assembled was ripe for a “£2bn world class development opportunity”.

Architect Allies & Morrison has been appointed to masterplan the redevelopment of the area, with up to seven million sq ft of office, retail, leisure, culture and residential space alongside higher education and community uses.

British Land chief executive Chris Grigg said: “We look forward to continuing our partnership with Southwark Council to create a vibrant new mixed use office, retail and residential campus for Canada Water including a new town centre.”