Big interest claim in Royal Docks development

The global marketing of a huge slice of Newham’s Royal Docks zone is paying off.

It was revealed this week that there has been positive interest from investors and developers from major UK-based developers...and from investors from as far afield as China, India, Australia and the USA.

Sellers the London Development Agency, have put 85 acres of prime development land at its sites at Silvertown Quays and the Royal Albert Dock out into the market place.

And they have given the clear message that there is a world-class opportunity for someone who will partner them to shape the future.

Responses, claims the LDA, the commercial development arm of the London Mayor, have shown a good level of consensus about the kind of developments appropriate for each site.

“Those expressing an interest in the sites have made it clear that they support the vision for a mixed scheme at Silvertown Quays, with business-led, hi-tech proposals dominating on the Royal Albert Dock site” says the agency.

Without revealing any specific details or names of possible partners, LDA Development Director Stephen Kennard insisted: “With the eyes of the world on London in the run up to the 2012 Olympic Games, the market looks positive for our sites.”

While Newham Mayor Sir Robin Wales said: “Investors and developers from around the world have been showing their interest in the Royal Docks.

“This shows they recognise the huge potential for investment and growth in the area and I look forward to seeing these initial ideas develop into more detailed proposals that can make the Royal Docks a place where people want to live, work and stay.”

The formal procurement process is expected to start later this month and will be in line with EU competition rules with the LDA aiming to reach an agreement with a successful development partner or partners in 2012.