British Land sells 50% of Canada Water project to AustralianSuper

British Land has sold 50% of its share in the 53-acre Canada Water Masterplan to AustralianSuper for £290m. AustralianSuper is one of Australia’s largest pension funds with more than £140bn in assets under management and a growing presence in the UK property market. The joint venture is to begin Phase 1 of the Masterplan, one of the largest London regeneration projects in history, with completion expected in the third quarter of 2021. “The investment by AustralianSuper, who have extensive experience investing in major regeneration schemes, is testament to the strength of British Land’s reputation and best in class development and operational platform", said British Land chief executive Simon Carter. "This new partnership enables us to move faster, delivering new homes and workspace, creating new opportunities for local people and delivering value for our shareholders".

Property Week (08/03/2022)