Waitrose South Bank Tower

Waitrose has revealed plans for its first shop on the South Bank in London, as part of a massive skyscraper project.

Waitrose will form part of the new multi-million pound development, South Bank Tower, a landmark scheme by independent private equity real estate business, CIT, and Riyadh based investment bank, Jadwa Investment.

The retailer has agreed a long-term lease with Hermes Investment Management and Canada Pension Plan Investment Board for a new little Waitrose branch, which will offer 3,000 sq ft of selling space (5,752 sq ft gross).

The unit will be handed over to the supermarket in May with an expected opening in July 2016.

The development will include approximately 200 new luxury apartments as well as 220,000 sq ft of offices and 36,000 sq ft of retail. Hermes Investment Management and Canada Pension Plan Investment Board are contracted to purchase the commercial elements, which has been called South Bank Central.

“The much sought after South Bank Central provides yet another exciting platform in making the little Waitrose brand increasingly visible to the capital’s shoppers,” said Waitrose director of development, Nigel Keen. “South Bank is a fast emerging part of London that is becoming increasingly attractive to retail and office occupiers, which are drawn by the unique nature of the area and the already established residential population.”