Royal Wharf, one of London's most important development opportunities, has been purchased from the Ballymore Group by Oxley Holdings Limited with the intention of developing this substantial site in East London.

The 40 acre site will be developed into over 4,000 residential units plus commercial, retail, leisure and educational facilities to create a new district for London.

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 just 1km away. Oxley now has the opportunity and responsibility to deliver this fantastic project, picking up the baton from Ballymore, who have already imposed their dynamic style through securing the planning permission."

Oxley is a property developer which specialises in quality residential, commercial and industrial projects, with various overseas projects in China, Malaysia and Cambodia.  

David Slater, Director of International Business Development at London & Partners, the Mayor's official promotional organisation for London, said: "This deal represents another important milestone in the regeneration of London. It comes as a direct result of the Mayor's trade mission, in which we were able to showcase London's exciting development opportunities to potential international investors, and I am delighted that Oxley Holdings will now be taking the Royal Wharf development forward."