The Greater London Authority (GLA) has launched the search for a new development partner for the 30-acre Royal Albert Dock site.
The site, which sits within London’s only enterprise zone, has the capacity to accommodate 400,000 sq m of new commercial and residential development space.
The GLA said it was seeking a development partner to “take a long-term view, curating and managing the delivery of a cohesive and compelling new masterplan, providing delivery oversight, expertise and funding to ensure the overall vision is maintained and delivered through individual phases and uses”.
Following the selection process, the GLA and its development partner will work collaboratively with the London Borough of Newham to create a shared vision and delivery strategy for Royal Albert Dock.
Sadiq Khan, mayor of London, said: “Once the beating heart of global trade, today the Royal Docks is re-emerging as one of the country’s leading areas of opportunity, investment, and innovation. I am pleased that we are now looking for a new development partner to transform Royal Albert Dock, one of the key sites in the Royal Docks. This will play a major role in the capital’s continuing economic success and growth eastwards.”
Rokhsana Fiaz OBE, mayor of Newham, added: “Newham’s Royal Docks has been reimagined to play a pivotal role in London’s growth as a dynamic global city. Through the diversity of our people, who have connections across the world, we are a hotbed of investment, innovation and opportunity. That’s why our plans for Royal Albert Dock are bold and exciting.
“As well as new homes people can afford, we’ll be opening up a vast array of jobs and opportunities reflecting the way we now need to live and work to secure a sustainable, inclusive and fairer Newham for present and future generations. Working with the mayor of London and the GLA, we are setting a new standard in our vision for the Royal Docks as we turbocharge our ambitious plans with purpose and with local people.”
Procurement of a new development partner is being led by the Royal Docks Team – a joint initiative from the Mayor of London and the Mayor of Newham – on behalf of GLA Land and Property (GLAP) as freeholder.
Montagu Evans is advising the Royal Docks Team on procurement, with the formal procurement process expected to start in summer 2024 following an initial period of market engagement in the spring.
