Southwark Council has approved a deal between the Daily Mail General Trust and British Land that will free up the 5.8ha Harmsworth Quay near Canada Water for redevelopment.
The quay is currently home to the Daily Mail’s printworks, but Southwark’s consent means the paper can assign its leasehold interest to real estate investment trust British Land.
British Land said it would obtain vacant possession for the site later this year and could now begin drawing up proposals for its redevelopment, with options thought to include a new campus for Kings College to complement the university’s proposals for the adjoining Mulberry Business Park, and a possible £38 million refurbishment and expansion of its Surrey Quays Shopping Centre.
Head of development Nigel Webb said: “We have demonstrated our long-term commitment to Southwark through our interests and investments in the area, both as part of BL Canada Quays – bringing regeneration to Canada Water Station – and at Surrey Quays Shopping Centre.
“We believe the Harmsworth Quays site is a fantastic opportunity to deliver the ambition of the Canada Water masterplan and we look forward to working with the London Borough of Southwark to develop the emerging area action plan.”
Councillor Fiona Colley, Southwark’s regeneration lead, said the ensuring that the land at Harmsworth Quays was put to good use would keep the regeneration of Rotherhithe and Surrey Quays going.
“In addition to new homes, the redevelopment of Harmsworth Quays has the potential to deliver the town centre and jobs that Rotherhithe really needs,” she said.
“I'm delighted that British Land has also agreed to work with the council to explore whether we can build a new campus for Kings College London on the site, which is something I know would be welcomed locally."
An art gallery dedicated to science has launched its first exhibition after opening in September.