London Mayor launches Royals Business Park at MIPIM
Ken Livingstone, Mayor of London, launched the Royals Business Park at MIPIM, the international property market, and will highlight the project as one of the excellent development opportunities now available in east London.
The Royals Business Park is London’s largest commercial park and is situated on a 50-acre site fronting the waterside on Royal Albert Dock. It is the London Development Agency’s first office development in the Thames Gateway area and will house major international companies. The £500m project is being developed in partnership with Development Securities.
The Mayor launched the Royals at the MIPIM London Stand
at the MIPIM stand, at the Palais des Festivals in Cannes,
France. MIPIM is the leading annual international property
market, exhibition conference.
“The Royals are one of the most important regeneration
areas in the UK, due to its size and location, which will
transform the district into a dynamic commercial, residential
and leisure centre” said the Mayor.
“London is growing at the rate of one city the equivalent
of
Leeds every four years and the Royals Business Park is
right at the heart of London’s growth area.”
“ The Royals Business Park shows the way for the development to the east of the city and will help to secure London’s premier position for the years ahead” he said.
Development Securities Joint Managing Director,
Julian Barwick added:
“Development Securities has a reputation for spotting
regeneration opportunities and, by creating new business destinations, we
are able to offer superb space at very competitive prices. We have just completed
the letting of the
first phase of our Paddington Central development to companies such as Visa,
The Prudential Corporation and Kingfisher. We
are therefore naturally very excited to be selected for such an important
project as The Royals and I look forward to repeating our success. With rents
at about £26 per sq ft. The Royals will be a cost effective solution
with excellent transport links for international companies at half the price
of City rents.”
The Royals Business Park is supported by excellent transport links offered by the London City Airport, Docklands Light Railway and road links. This will also be supplemented by a Crossrail, if the Mayor’s preferred option goes ahead.
The ExCeL Exhibition Centre, also in the Royal Docks, is already attracting major shows and a series of major development schemes are also planned for the area.
The first phase, which has detailed planning permission,
consists of two landmark glass and steel buildings on five
storeys totalling 237,000 sq ft (22,017 sq m) with 324
car-parking spaces, which are mainly underground. The
buildings, designed by world-class architects Aukett Europe,
are linked by a spectacular Winter Garden.
The Royals Business Park has outline planning consent for a total of 1.6m sq ft (146,640 sq m) of offices, together with 100,000 sq ft (9,290 sq m) of retail and leisure uses and 1,875 parking spaces, together with extensive landscaping and pubic spaces.
The letting agents for the scheme, ATIS Real Weatheralls and Knight Frank are already receiving interest from financial services and insurance companies who are located in or close to London and from international companies seeking a London base.
For further information contact:
Sue Brown, Tamesis +44 (0)7710 420070
Julian Barwick, Development Securities +44 (0)7770 610051
Chris Read, Development Securities +44 (0)7770 610049
Nicola Hawdon, London Development Agency +44 207 654 4612
