British Land bolsters leasing powers for Canada Water labs

British Land has asked Carter Jonas to join forces with Savills to fill up Paper Yard, a 33,000 sq ft CL2 lab and office space in Canada Water, SE16. The duo will be tasked to find occupiers for part of ground floor, measuring 8,365 sq ft, and first and second floor suites, totalling 11,773 sq ft and 10,339 sq ft, respectively. According to market figures, asking rents in the building range from £67.50 to £85 per sq ft. The research and development component, designed by Hawkins\Brown, forms part of the wider 53-acre Canada Water development. JLL is instructed on the wider site.  Current occupiers at Paper Yard include Prosemino and Chemastery. Georgia Hogg, transaction manager for offices, science and technology leasing at British Land, said: “Paper Yard is an innovative, flexible lab space building unlike any other across London, and forms a key part of our wider science and technology portfolio across the UK.” Matt Lee, head of science and technology at Carter Jonas, said: “The site’s design aligns with British Land’s overall development strategy, which includes connected innovation hubs such as Canada Water, Regent’s Place, Surrey Research Park, and Peterhouse Technology Park. This strategic approach fosters relationships and collaboration opportunities with universities, the NHS, and sector-specific organisations, thereby driving innovation across the renowned sectors and providing companies with the space to grow and thrive.”