Australia’s largest superannuation fund AustralianSuper has appointed Stephen Hubbard to its advisory team.
Hubbard (pictured), formerly UK chair at CBRE and currently chair of Workspace Group, will represent the fund as a non-executive director on the board of its joint venture with British Land for the delivery of the Canada Water masterplan in Southwark, south London.
British Land and AustralianSuper formed a 50/50 joint venture in March 2022 to accelerate the delivery of the Canada Water masterplan, a 53-acre development which is one of the largest and most sustainable regeneration projects in London.
The mixed-use scheme will deliver around 2m sq ft of workspace to accommodate approximately 20,000 jobs, around 1m sq ft of retail, leisure, entertainment, education and community space, and around 3,000 new net-zero homes, of which 35% will be affordable.
The joint venture partners also recently unveiled their life sciences ambitions at Canada Water with the appointment of Stanton Williams to design a 300,000 sq ft life sciences scheme as part of the masterplan’s second phase.
The first phase of the masterplan is already underway with the construction of The Founding, a 35-storey residential tower with 186 new homes, alongside workspace and retail at Three Deal Porters and the Dock Shed, as well as a new leisure centre for Southwark Council.
Canada Dock, opposite these three buildings, will be restored as a public realm and education space. In the south east of the masterplan, the Paper Yard, 30,000 sq ft of modular lab space, is due for completion later this year, located next to TEDI-London, the higher education engineering enterprise co-founded by King’s College London, Arizona State University and UNSW Sydney.
AustralianSuper head of international investments Damian Moloney said: “AustralianSuper is privileged to have access to a group of advisers and sector experts upon whom we can call for roles such as Stephen’s. Access to such highly skilled and experienced advisers ensures we maintain high-quality corporate governance across all our investments.”
British Land co-head of Canada Water Roger Madelin added: “Stephen’s experience in the UK real estate sector makes him an asset to the Canada Water board, bringing with him a wealth of knowledge that very few in the industry can boast.”
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