Stanhope is working with ABP, a mainland Chinese developer, on its first development outside China. We assisted ABP in the selection process with the GLA, who own the site.
Consent has been secured for a masterplan for the regeneration of the Royal Albert Dock to provide a new business district with a mix of uses including upto 1,000 residential units and 150,000 sqft of retail and leisure uses.
Phase 1 will comprise up to 1.4m sqft and is programmed for completion by 2018. Demand for a significant proportion of the first phase is underpinned by demand from Chinese companies seeking to establish a headquarters here in the UK. 60 companies have indicated their interest to date.
The total employment that is anticipated at 20,000 jobs, many of which will be new to the UK, and will provide opportunities for residents of Newham. The masterplan will open up this area to the public for the first time and enable the dockside walk to connect from Royal Victoria Dock to UEL. The facilities provided will be enjoyed by local residents. The site will benefit from improved public transport when Cross Rail arrives at Compressor House in 2018, 3 DLR stops from the site’s own DLR station at Beckton Park.