Royal Wharf Sale Demonstrates Continued London Draw for Asians

Asian investors are continuing
to plough money into London and the recent sale of Royal
Wharf has demonstrated the appetite for real estate hasn’t waned.
Oxley Holdings Limited, a Singapore-listed property developer, has
now exchanged contracts for the site, which is one of the capital’s
most important development opportunities.

Oxley has grand plans for Royal Wharf too, intending to develop
the entire 40 acres into around 3,400 residential units and a
variety of outstanding commercial, retail, leisure and educational
facilities. This will create an entirely new district for London
and help to increase its housing supply – a vital factor for
ensuring the capital is capable of growing into the future.

Ching Chiat Kwong, Oxley chief executive, said: “Royal Wharf is
an outstanding opportunity and offers a blank canvas to create
something very special for London. It has over 500 metres of river
frontage with a Crossrail station 1km away.  Oxley now has the
opportunity and responsibility to deliver this fantastic project,
picking up the baton from Ballymore. Oxley will create a vibrant
district and the opportunity cannot be missed by Londoners.”

The organisation certainly has plenty of experience in doing
just that and specialises in lifestyle property development,
including high-quality residential, commercial and industrial
projects. China, Malaysia and Cambodia have all been the sites of
previous Oxley projects.

Mayor of London Boris Johnson is even eager to work with Oxley
Holdings, after meeting with them during a trade mission to China
last month. He claimed the decision of the company to acquire Royal
Wharf demonstrates the firm’s confidence in London. Mr Johnson
added that it is this type of deal that makes his efforts
worthwhile, not to mention adding to the city’s draw. Indeed, there
is a “colossal” appetite among developers from the Far East to
invest in London, he explained.

Knight Frank was also involved in the deal, working for seller
Ballymore. It identified Oxley as a key buyer for the Royal Wharf
and explained that the company has similar values to their client,
which can only mean good things for the London market.