This is hardly surprising, given that, with a few other developments in the pipeline, Canary Wharf will soon be full.
London Mayor Boris Johnson sealed a 1.5 billion USD deal with a Chinese property developer to turn a historic London dock into a 21st-century “Asian business port”: the Royal Albert Dock is set to become London’s third business district.
The deal is believed to be worth $9bn to the UK economy, generating $35 million in business rates annually and acting as a catalyst for further development in the area, strengthening trade between east and west, providing new local jobs and delivering benefits for the wider London and UK economy.
The scheme, which will see Advanced Business Park (APB) create a 3.5m sq ft office complex at the Royal Albert Dock, is the London mayor’s biggest commercial property deal and one of China’s largest investments in the UK.
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