05 Feb Plans for Royal Albert Dock unveiled – come and have your say
- Royal Albert Dock to become London’s next business district – a place to work, live and enjoy
- Proposals will create up to 20,000 new jobs
- 1km of waterfront to be opened up to the community for the first time and deliver new cafes, restaurants and public squares
Plans to transform the Royal Albert Dock into the capital’s next business district are set to be unveiled.
The proposals will go on display at a public exhibition at Compressor House for three days from Thursday 6 February (full details below).
Developer ABP’s vision is to create a vibrant hub for people to work and live and a new gateway to Europe for businesses from Asia. The proposals will also create up to 20,000 new jobs, a significant number of which will be available to local people.
For the first time, local people will be able to enjoy around 1km of waterfront, along with three new public squares, a dockside promenade and green links through the site.
The Royal Albert Dock development will bolster trade links with Asian markets and attract new companies to set up European HQs at the 35-acre site. This unique cluster of businesses will act as a magnet for other European and UK companies, attracting more much-needed investment into this part of London and the UK.
Chairman of ABP, Xu Weiping, said:
“These proposals are incredibly exciting and I am very proud that my company ABP is driving them forward. We look forward to meeting local people at the event and hearing their feedback on our plans.
“Royal Albert Dock will deliver significant benefits for the local community. Around 20,000 new jobs will be created, 1km of new waterfront will be opened up for the first time and local people will be able to enjoy new public squares, cafes, restaurants and shops.
“This part of London, with its unrivalled transport connections and the arrival of Crossrail in 2018, makes it the perfect place to create a new business district. Historically Royal Albert Dock was the trading heartland of the capital and our aim is to restore the DNA of the past. We believe this development will act as a catalyst for the wider regeneration of the Royal Docks and will complement the other exciting schemes planned or underway.”
A planning application for the whole site and a detailed application for Phase 1 of the scheme will be submitted in Spring 2014. Subject to planning approval, construction could begin as early as 2015, with Phase 1 set for completion in 2018.
The consultation will be held at Compressor House, Royal Docks, Dockside Road, Newham, E16 2QD. Opening times are as follows:
Thursday 6 February – 2pm to 9pm
Friday 7 February – 10am to 4pm
Saturday 8 February – 10am to 4pm
The proposals can also be viewed on the community consultation website at www.royal-albert-dock.com
Notes to Editors
- It was announced by the Mayor of London on 29 May 2013 that ABP (London) would lead the development of the 35-acre Royal Albert Dock site, as part of a £1bn deal, with UK partner Stanhope acting as development manager. ABP were chosen following a procurement process to identify a developer to develop out the site for employment focused uses. The £1bn deal relates to the estimated gross development value of the development.
- ABP is an experienced and successful developer in China, with a track record of investing in and transforming large areas in need of regeneration. ABP Beijing, for example, is a completed 15 million square foot development, home to around 50,000 employees of the businesses based there. It consists of 400 large office buildings of which many are more than 15 storeys high and includes apartments, shops, restaurants, leisure facilities and a luxury hotel. Over 95% of the buildings have been sold.
- ABP has a number of other large scale projects under construction and on track, including a development in Shenyang, the largest city in north eastern China. The Shenyang project is five times the size of the development in Beijing and ABP have already completed 120 buildings, with a further 300 or so to complete over the next two years. The latest ABP project is in the eastern coastal city of Qingdao where the company is on track to complete the first 100 of 300 office buildings next year.
- 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.
- The Royal Docks was granted Enterprise Zone status from April 2012 in recognition of its strategic importance.
- 50ha rates relief (if in area by April 2015)
- Enhanced Capital Allowances at RAD (up to April 2017) – good for capital intense industry e.g. biotech
- Simplified planning – GLA/LBN/TfL/Developer Project Planning Performance Agreement
- Broadband – part of successful £25m Urban Broadband Fund bid (up to 1gb/ps if there is demand)
- Business rate uplift retention for 25 years