LONDON Nov 1 London's largest development site
since Battersea Power Station has been sold to Singaporean
developer Oxley Holdings for 200 million pounds ($321
million), which plans to build more than 4,000 homes on the
37-acre plot of land.
The deal is the latest in a string of transactions made by
Asian investors in the British capital. A Malaysian consortium
made up by SP Setia, Sime Darby and the
Employees Provident Fund paid 400 million pounds for the 39-acre
power station scheme in July 2012.
The Royal Wharf riverside site in east London, which was
sold by developer Ballymore, is the largest since the iconic
power station was sold, according to property agents Knight
Frank which advised the seller.
Oxley has built luxury homes and offices in Singapore and
has ongoing schemes in Cambodia and Malaysia, it said on its
"Royal Wharf is an outstanding opportunity and offers a
blank canvas to create something very special for London," the
company's Chief Executive Ching Chiat Kwong said in a statement