New Dockside business district ABP announces first occupants
- Credit: Archant
The future of London’s newest business district is looking even brighter after a substantial international investment.
On Friday, business leaders and politicians were among the hundreds of guests at ABP Royal Albert Dock’s official sales launch, where the company announced it is to receive tens of millions of pounds from Indian property company Strawberry Star Group.
The deal is in return for equity and is expected to generate further interest in the business district.
ABP’s chairman, Xu Weiping said: “I am delighted to be partnering with Strawberry Star.
“China and India represent two of the most powerful growing economies in the world and there is a synergy between us. We are two companies that share a vision for Royal Albert Dock.
“Working together with ABP, Strawberry Star can help us to bring more occupiers from Asia and that was more important to us than the financial investment. Progress on this project will now be rapid”
The first occupiers of London’s third business district were also revealed, with 10 companies paying a £50,000 reservation fee each to secure office space.
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Companies operating in life sciences, high tech and finance from both the UK and Asia were among those to secure space in the first phase of the £1.7 billion, 4.7million sq ft development.
Construction work is due to start on the site later this year, with completion of the first phase set for 2017.
Founded in 2003, ABP is an established Chinese developer across China with a track record of investing and transforming areas in need of regeneration with significant projects that allow companies to thrive and prosper. It has a number of other large scale projects under construction and on track in China, including developments in Shenyang and Qingdao.
ABP London is a subsidiary and will deliver the Royal Alert Dock development – the company’s first project outside of China.