British Land acquires Surrey Quays Leisure Park for £135m

British Land has acquired Surrey Quays Leisure Park in Canada Water for £135m, according to an investor note released on Monday.

The combined sites that British Land has assembled at Canada Water over the last five years came to a total investment of £250m.

Chief executive of the company Chris Grigg said: "This acquisition completes our assembly of a significant £2bn world-class development opportunity in the heart of one of London's major regeneration zones.

“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."

The Canada Water investment covers nearly 50 acres and is one of the largest mixed-use regeneration projects in London, according to British Land.

Jonathan East from Aviva Investors said: “We are pleased to have completed the sale of Surrey Quays Leisure Park to British Land which has enabled us to secure a strong return for our policyholders.”

“Having been involved since funding the original development of the leisure park in 1996, we have witnessed significant changes to Canada Water over the years. British Land have ambitious plans for the area and we are happy to hand the baton over to them to progress the comprehensive regeneration.”