The Mayor, Boris Johnson, has announced details of a £1bn deal to transform London’s historic docklands into the capital’s next business district, forging new trade links with China and other economies in the Asia-Pacific region and securing billions of pounds of inward investment in the UK economy
Chinese investor Dauphin (Advanced Business Parks) (ABP) has been chosen to develop the 35-acre Royal Albert Docks site in London’s East End and at the heart of the Royal Docks.
The £1 billion plan by ABP and its UK project partner Stanhope – aims to build a 24-hour ‘mini-city’ of offices, shops and homes on the Royal Albert.
A state-of-the-art business port aimed initially at Chinese and Asian business will be created over the next few years.
Some key details:
- Estimated 20,000 jobs to be created
- Development to be worth £6bn to the UK economy when complete
- The first occupiers are due to move in in 2017.
- 3.2 million square feet of high quality work, retail and leisure space, including 2.5 million square feet of prime office space.
- The Royal Docks lies within the stretch of land running from Stratford down the River Lea to the Thames, an ‘arc of opportunity’ with £22 billion of development potential. It is home to ExCeL, the international exhibition and convention centre and London City Airport. The Mayors of London and the London Borough of Newham have set out a joint vision to develop the Royal Docks.