Chinese government owned developer Greenland Group is to build a new residential tower block in London’s docklands and redevelop the old Young’s Ram brewery site in Wandsworth in projects valued at around £1.2Bn.
The Ram brewery development has been confirmed following acquisition of the site, which has planning permission for 661 homes and 9,500 square metres of commercial space, from property developer Minerva. Hundreds of jobs will be created during construction, according to Wandsworth council.
The Docklands scheme, estimated to be worth around £600 million, came to light when London Mayor Boris Johnson revealed on a radio programme that Greenland planned to build a tower higher than the Canary Wharf tower, although this has not been confirmed by Greenland.
The Wandsworth scheme will include a 36 storey residential tower as well as shops, restaurants, a microbrewery and a brewery museum on what was thought to have been Britain’s oldest continually operated brewery site, with a history going back to the 16th century.
Greenland Group is said to be one of the most ambitious Chinese property companies in the international market. As well as having projects under way in 65 cities in China, including a 636 metre high building in Wuhan which will be one of China’s highest, it is active in six other countries and international development plans include a US$500 million residential tower in Sydney and a $1Bn scheme in Los Angeles.
Greenland’s President and Chairman Zhang Yuliang said: “London is the global financial centre as well as the most open and diversified city that enjoys the most mature economic development, making it the first option for our investment in Europe.”
Artists Impression of Wandsworth project courtesy of Delancy