Launched: Selling of the Royal Docks development potential to global market
Campaign to lure the big money men targets China, Asia and Middle East.
The global ‘selling’ of the Royal Docks as a money-spinner for investors and developers is underway.
City Halls business arm, the London Development Agency (LDA), announced it has begun its anticipated promotion of two major sites in the former ships docks to international investors.
Its campaign will put the spotlight on the potential for growth at its Silvertown Quays and Royal Albert Dock sites - 85 acres of prime development land.
In the search for development proposals, the marketing campaign will reach investors around the world, particularly in the emerging markets of China, elsewhere in Asia and the Middle East.
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London Mayor Boris Johnson, said of his newly announced Royal Docks Enterprise Zone, “This is another key milestone in the regeneration of east London. The 2012 Games are already transforming the area before our eyes so the time has never been better to unlock the potential of the Royal Docks and Silvertown Quays.
“There is no reason why, like the fantastic Olympic Park, the development of these two prime areas should not create a major new economic hub in our capital and a top class destination to live and work.”
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LDA Development Director Stephen Kennard added that With the eyes of the world on London and 2012 they want to capture this global interest and turn it into lasting investments.”
“This campaign,” he said, “is announcing to the world that we are open for business.”
Newham Mayor Sir Robin Wales chipped in “London is moving east and the Royal Docks are where London’s future essential economic growth can truly thrive.”
Using the UK and international property press, the first phase of the campaign will invite ‘expressions of interest’ in the two sites. This will be followed by selection of development partners later this year and agreement with a development partner by 2012.
The LDA said they will listen to any practical proposals for the regeneration of its land and will look to get an appropriate financial return and the best outcomes possible.