UK REIT British Land said it has reached provisional agreement to acquire the Harmsworth Quays printing works site at Canada Water in Southeast London from The Daily Mail General Trust (DMGT). The purchase price was not disclosed. The transaction is due to go unconditional in July 2012.
UK REIT British Land said it has reached provisional agreement to acquire the Harmsworth Quays printing works site at Canada Water in Southeast London from The Daily Mail General Trust (DMGT). The purchase price was not disclosed. The transaction is due to go unconditional in July 2012.
British Land will take possession of the site in late 2013 following the relocation of DMGT’s printing operations from Harmsworth Quays to Thurrock.
The UK company has a long-term interest and investment in the area both through its joint venture with the London Borough of Southwark at Canada Water and its joint venture at Surrey Quays Shopping Centre. Canada Water is a major regeneration zone in Southwark.
In January, British Land announced plans for a £34 mln (EUR 42 mln) investment at Surrey Quays shopping centre including an extensive refurbishment of the existing centre.
