INDUSTRY NEWS

Royal Wharf set for London offices and homes following £200m purchase

Share:

Oxley Holdings has purchased Ballymore’s Royal Wharf former dockyard site in a deal worth a reported £200m.

The Singapore-based developer has bought the east London site in order to construct a massive mixed-use development featuring new London offices, leisure and educational facilities and around 3,400 apartments.

The site is located less than three miles from Canary Wharf, in near vicinity of London City Airport and will soon be in close proximity to a Crossrail station.

Oxley chairman and chief executive officer, Ching Chiat Kwong, said: “Royal Wharf is an outstanding opportunity and offers a blank canvas to create something very special for London.

“Oxley will create a vibrant district and the opportunity cannot be missed by Londoners.”

The 40 acre site on the banks of the River Thames is the largest to have gone to market since the Battersea power station site last year – a development which was also snapped up by a developer from the Far East in the form of a Malaysian consortium.

It is Oxley’s first venture into the London property market, with the firm previously mainly constructing offices, homes and factories within Asia.

London Mayor, Boris Johnson, added: “My team and I met with Oxley Holdings on our trade mission to China last month and I am thrilled at this demonstration of their confidence in our great city.

“This type of deal is exactly why I spent six days meeting businessmen and officials in China banging the drum for the capital, and it is further evidence of the colossal appetite of developers from the far East and elsewhere to invest in London”

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

Share: