Royal Albert Dock, one of the three docks in the Royal Group of Docks in East London, is soon to become the capital’s new business centre. The Chinese backed development enterprise Advanced Business Parks (ABP) have invested £1.7 billion to create the “Asian Business Port” at Royal Albert Dock in London, with the prospects of creating more than 30,000 jobs and £6 billion to the local economy*. So how did this initiative come about? Back in 2011, ABP announced its intention to bid to develop the Royal Albert Dock. Considering its unrivalled location near transport facilities such as London City Airport, Docklands Light Railway (DLR) and Crossrail, or destinations such as the O2 Arena, Olympic Park and ExCel London Exhibition Centre, the offers to transform the area into a business hub directly became a top priority for East London’s re-development agenda. In 2013 Boris Johnson, the former Mayor of London signed the £1.7 billion deal with ABP to start the transformation. In the following year, the proposals for the development at Royal Albert Dock were unveiled, followed by a public consultation which proved great interest to the public in Docklands improvements.
The new business district will be home for the companies who seek to grow within a network, while also being the “engine” that will enable the economic growth of the Royal Docks. Furthermore, the area will be the new headquarters of major Chinese and Asian companies who seek to expand their market reach across Europe as well as opening new trading doors for European companies. The Phase 1 of the mixed-use project which is due to be completed in 2018*, will have 3 types of developments, actually not only for offices:
Type A – Compact, terraced offices along the Waterside and the International Business High Street
Type B – Large and modern office buildings with open plan floor-plates, situated between the International Business High Street and Parkside
Retail – Mid-level and high-end retail choices to make the area a destination for shopping and leisure. To involve also a vibrant café and restaurant variety
The re-creation of Royal Albert Dock as a centre for businesses, shops and housing is a clear statement that despite Brexit, London is still the key address for global businesses and trigger of major investments. As leading E16 estate agents, we can help you find your perfect home just minutes away from the new ABP development. Contact us now to talk to someone from our South East London estate agents team or start searching nearby properties to rent or to buy.