11 Dec Savills to join ABP in worldwide deal
Savills has been appointed to work with Royal Albert Dock developer ABP in a groundbreaking international deal to promote the company’s business and residential projects worldwide.
This new global relationship was sealed by a formal contractual signing between Savills Group CEO Jeremy Helsby and ABP Chairman Xu Weiping on Wednesday 11 December 2013 at Savills global HQ in London and was witnessed by more than 30 business representatives.
Through the deal the international real estate advisor, also a leading force in Asia, will help ABP achieve its vision to create a new waterfront destination at Royal Albert Dock into a vibrant 24 hour business environment by bringing in enterprises from Asia, the UK and Europe. Savills will also act for ABP to attract occupiers to its developments in Beijing, Shenyang, Qindao and Huangzhou, as well as further global developments as they emerge. This type of worldwide representation between a Chinese developer and an international real estate company has never been seen on this scale. Savills has more than 500 offices and associates around the world and ABP is a significant Chinese developer with global ambition beyond its Royal Albert Dock project.
In a further innovative arrangement, Savills will have an on-site presence at Royal Albert Dock to market the site directly to potential occupiers. More than 60 companies from Asia alone have registered a formal interest in taking space at Royal Albert Dock, which will create some 3.5 million sq ft of new commercial space, including 3.2 million sq ft of offices, with an estimated value of over £6 billion to London’s economy. Corporate occupiers will not only be able to lease space at the 35 acre site but purchase an office headquarters ranging between 5,000 sq ft to 200,000 sq ft.
Speaking at the signing event, Jeremy Helsby said: “We are delighted to be working with ABP. Through our global platform we will bring together an international business community, and in particular, provide a link between UK and Asia to assist businesses in transferring seamlessly.
“The Royal Albert Dock scheme has already attracted enormous attention worldwide and we are excited about working on such a prestigious project which will transform an area of east London into the capital’s next business district.”
ABP Chairman, Xu Weiping, said:
“What we are seeing here is two great companies agreeing to work together that will quicken the pace of the success of the Royal Albert Dock development but it will also create a strong international force that will see both ABP and Savills benefit. I am very pleased we have concluded this agreement.”
According to Savills data, central London office take-up in the first three quarters of 2013 has totalled 8.2 million sq ft, the strongest year for tenant demand since 2007. With vacancy rates falling in both the West End and City markets, upward pressure on rents has seen prices rise by 5% this year.
ABP (China) Holdings Group Ltd was founded in 2003 and has forged a reputation for developing large scale enterprise districts. ABP is an experienced and successful developer in China, with a track record of investing in and transforming areas in need of regeneration. ABP delivers significant projects that help Chinese businesses to thrive and generate economic growth.
Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage with unrivalled growth. It is a company that leads rather than follows and now has over 500 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.
A unique combination of sector knowledge and entrepreneurial flair gives clients access to real estate expertise of the highest calibre. We are regarded as an innovative thinking organisation backed up with excellent negotiating skills. Savills chooses to focus on a defined set of clients, therefore offering a premium service to organisations and individuals with whom we share a common goal. Savills is synonymous with a high quality service offering and a premium brand, takes a long term view to real estate and invests in strategic relationships.