Sellar and Art-Invest to co-develop Canada Water site

Sellar is to remain involved with the 4.5-acre development site in Canada Water, SE16, that it had been delivering with Notting Hill Genesis prior to its £140m sale to German investor Art-Invest Real Estate. The firm has been appointed by Art-Invest to co-develop the site, which has an indictive masterplan to create three commercially led buildings totalling circa 1.2m sq ft. The site also has consent for 1,000 homes, including 234 that have already been completed and a new Decathlon store. James Sellar, chief executive of Sellar, said: “The transaction enables us to continue delivering on the vision, which has evolved in conjunction with the London Borough of Southwark, and we look forward to working with the Art-Invest team to deliver a landmark scheme at the heart of London’s next major regeneration hub.” Notting Hill Genesis decided to sell the site last year after deciding the remainder of the undeveloped scheme would be better used for commercial space. The housing association acquired the site in 2014 and continues to operate the 234 private rented sector flats via its PRS subsidiary Folio London. Savills acted on behalf of Notting Hill Genesis and Cushman & Wakefield acted on behalf of Art-Invest. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette