Oxley Holdings Ltd. (OHL), a Singapore-based property developer, will build 3,400 homes in London after buying the city’s largest mixed-use real estate site since the sale of Battersea Power Station.
The developer bought the 40-acre (16-hectare) Royal Wharf site at the Royal Docks on the banks of the River Thames from Ballymore Properties Holdings Ltd. and will build homes, offices and shops, London-based broker Knight Frank said in an e-mailed statement. The deal is Oxley’s first in the U.K., according to the broker. Terms weren’t disclosed.
“Royal Wharf is an outstanding opportunity and offers a blank canvas to create something very special for London,” Oxley Chief Executive Officer Ching Chiat Kwong said in the statement. “Oxley will create a vibrant district and the opportunity cannot be missed by Londoners.”
More than 250 million pounds ($400 million) has been spent on land for homes in London’s Docklands area this year and an additional 2 billion pounds must be invested to fund the projects, according to Jones Lang LaSalle Inc. Knight Frank was hired to sell the site alongside London-based broker Alan Selby and Partners LLP in April.
Your origional post in the Royal Docks threadIs this the old Minocco Wharf site? I think I posted about it several years ago. Not sure how much this differs from the original plans though. It looks similar to the old Masterplan.
I have downloaded the outline application from Newham.
It's a 200 page PDF for the design and access document.
The initial part of the plan discusses how the whole area can be planned out including sites that are owned by others as far west as Peruvian wharf.
The plan is for a high street to stretch in a diagonal from one DLR station to the middle of the site then parallel the river and road and then back out to the next DLR station.
The whole site is cut up into a grid streets, on top of which a mixture of terraces and flats have been fitted with ground floor uses along the high street.
There will also be a variety of squares.
The terraces will be 3/4 storeys. The flats will be 4/8 storeys. There will be few taller towers acting as focus points (less than 20 floors).
This is the section they currently own and will develop themselves
Brian Yee Group Property have announced a shared real estate development of over three thousand new homes to be built in the Royal Wharf Area in London, built by Oxley Holdings of Singapore.
Singapore is one of the new trading centers of the world. Since China’s rise to prominence as a trading superpower Singapore has gone from the exotic merchant hub of the naval golden age to a modern trading metropolis, and with this comes an increased demand for homes abroad as Singaporean business leaders seek to establish a base in world cities like London and New York. Brian Yee Group Property is a company that offers the newest and finest homes for executives, and has now announced 3,600 new properties will become available as part of the Royal Wharf London project.
The project will aim to provide 500m of river front living with DLR and Jubilee line services nearby and a dedicated Custom House Crossrail station slated for 2018. In addition to the 3,600 homes, there will be a new school, shops, restaurants and parks.
For those looking to own UK property, location information is fully viewable with Google Maps and Street View previews, and a high quality site plan render is available for people to get an impression of the finished development. Created by award winning architects, the site represents the largest joint venture of leasehold and freehold properties since the sale of Battersea Power Station, and will sell rapidly.
A spokesperson for BYG Property explained, “Owing to its great location and the fruitful trade talks with Mayor Boris Johnson, the Oxley Group development is the best opportunity for Singapore business leaders to establish a premium base in London, not twenty minutes outside the City of London, a world centre for trade. The property is also right by the O2 Arena where many of London’s biggest events are held, and excellent access to London City Airport to make international travel a convenient reality for those jetting back and forth. We believe this is one of the most exciting developments in years, and encourage people to reserve viewings and bookings as soon as possible.”
I suspect many of those will be sub-divided into flats by property investors. I can't see much demand in this area for a million pound houses, certainly not in this decade and the early part of next. This is no-where near even semi-prime land for the traditional homeowners who could afford that sum in London.I think it said in the Standard 4-bedroom flats start at £999,000 !!!
Yep and then many people living there will need housing benefits to afford the rent. This, all over the country, will continue to push up the housing benefit budget to all taxpayers diverting funds from other areas. It will do nothing for the deficit which is apparently so essential to reduce, yet politicians do nothing to reduce the increasing costs of housing benefit brought on by ever increasing costs. Couldn't be because 1/3 of MPs are into buy to let could it?I suspect many of those will be sub-divided into flats by property investors. I can't see much demand in this area for a million pound houses, certainly not in this decade and the early part of next. This is no-where near even semi-prime land for the traditional homeowners who could afford that sum in London.
Hmmm, I haven't watched the video, but if they're claiming the crossrail station is right next to the site then they are lying through their teeth. The crossrail station is on the North side of the dock so to walk from this site will be at least 15-20 minutes and there are no direct road, bus or dlr routes to it...then again, most of this will be sold off plan to Asian investors who have no idea of the reality and will suck up the lies...sigh...Quite the dramatic video that... though the renders do look quite nice and have a crossrail station right next to it is definitely quite a bonus making the distance to central London quite insignificant.