We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Thu 3 Feb 2011 10:46 AM

Font Size

- Aa +

Qatar joins Canary Wharf in bid for £300m Shell HQ

Waterloo site is one of the most sought-after development locations in London

Qatar joins Canary Wharf in bid for £300m Shell HQ
Londons Canary Wharf Group will partner Qatar on the bid for the £300m site

Qatar has entered a joint £300m ($485.7) bid with London’s
Canary Wharf Group to buy up the site of Shell’s headquarters in the UK capital.

The Gulf state will compete with bidders including Land
Securities, the UK’s largest real estate trust, which has paired with Berkeley
Homes, and Helical Bar with Aviva and Native Land, the UK’s Financial Times
reported.

Private sector bids include one from Chelsfield, led by Sir
Stuart Lipton, with London & Regional, the property company of Ian and
Richard Livingstone, the wealthy property entrepreneurs, the report said.

The Shell Centre’s 5.25-acre Waterloo site is one of the
most sought-after development locations in London. The three buildings are to
be redeveloped into a mixed-use scheme, including new corporate offices for
Shell.

If successful, the site would become the latest asset in Qatar's already
extensive London property portfolio. The gas-rich emirate own assets including
London Bridge Tower, Chelsea Barracks and the US embassy building in Grosvenor
Square.

Qatari Diar, the real estate arm of Qatar’s sovereign wealth
fund, in December said it would enter a bidding race to buy and manage half of
the Olympic Village in London.

 

Arabian Business: why we're going behind a paywall

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.