British Land has confirmed reports in the property trade press that it has acquired Surrey Quays Leisure Park for £135 million from clients of Aviva Investors.

This purchase means that British Land now owns three key redevelopment sites at Canada Water, including Surrey Quays Shopping Centre and Harmsworth Quays.

Chris Grigg, chief executive of British Land, said: “This acquisition completes our assembly of a significant £2 billion 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.”

Jonathan East of 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 laid the groundwork for a comprehensive redevelopment of the site we were able to benefit from the buoyant market for residential sites around London, particularly for such a large site in a recognised area of opportunity.

“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.”