Bloomberg News

Berkeley, Delancey in Race for $2.4 Billion East London Project

October 26, 2011

Oct. 26 (Bloomberg) -- London Mayor Boris Johnson shortlisted three companies for a 1.5 billion pound ($2.4 billion) project to redevelop Silvertown Quays in the U.K. capital’s East End.

A fund advised by Delancey Real Estate Asset Management Ltd., a Berkeley Group Holdings Plc unit and a venture between Chelsfield Partners LLP, First Base Ltd. and Imagination Europe Ltd. were asked to submit proposals for the 50 acre (20 hectare) site, the London Development Agency said today in an e-mailed statement.

“I look forward to seeing inspiring ideas,” Johnson said in the statement. “I want to see lasting jobs created and new sustainable communities emerge from this prime development opportunity.”

Silvertown Quays, located between Canary Wharf and London’s City Airport, is one of several areas in east London where unused docks, warehouses and industrial land are being redeveloped to make way for homes, offices and stores.

The winning proposal will be chosen in March, according to the statement.

--Editors: Jeff St.Onge, Andrew Blackman

To contact the reporter on this story: Chris Spillane in London at cspillane3@bloomberg.net.

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.


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