London-based regeneration specialist, Hadley Property Group, which has a current development pipeline of £1.1 billion, together with shareholder and funding partner, Peterson Group, has completed the purchase of its largest site to date, the 1.7hectare Blackwall Yard, from Thomson Reuters.
Blackwall Yard, one of the last substantial development sites on the north bank of the Thames, is a short walk from Canary Wharf and Poplar High Street. The site has a rich history as a shipbuilding dock but has been closed to the public for more than 30 years, and was previously used as a private car park for a neighbouring data centre. It is directly opposite the O2 and has river frontage and panoramic views of the Thames.
Hadley has been developing a comprehensive masterplan for the site and will reveal details of its proposals at a series of digital consultation events later in June. The design team, selected through an international competition, comprises Glenn Howells Architects, White Arkitekter and Panter Hudspith.
The evolving masterplan will open-up public access to the river with connections to and along the waterfront. As well as 850 market sale and affordable homes, it will deliver a school, cafes and shops and a sustainable transport hub. A key aspect of the plan is the regeneration of the historic but neglected Blackwall Yard Graving Dock, which has been inaccessible to the public for more than fifty years, into an outdoor swimming pool.
Commenting on the acquisition, Andy Portlock, Chief Executive Officer at Hadley Property Group, said:
“Completing the purchase of Blackwall Yard, particularly in the current climate, marks a significant acquisition for our business. Now our largest scheme, Blackwall Yard demonstrates the continued expansion of our portfolio as we remain focussed on delivering inclusive and innovative developments in London.
“An important part of East London’s ship building history, we will transform the site from an underutilised car park into a welcoming, well-designed development with values of openness and sustainability, whilst comprising more than 800 homes, a primary school, community hub and the reimagined graving dock for the people of Tower Hamlets.
“We have worked closely and collaboratively with the Council throughout the pre-application process and look forward to engaging with the neighbouring community on our proposals next month.”
Tony Yeung, Chief Executive Officer at Peterson Group, added:
“We are excited to complete on this site with its outstanding potential. Despite the challenging environment, London continues to be an important part of the group’s investment strategy, with quality residential still very much an asset class we favour. Our partner, Hadley continues to utilise its expertise and network to help us navigate dynamic markets to find interesting and rare opportunities on the ground.”
Notes to editors:
About Hadley Property Group:
- Hadley Property Group, established in 2003, is a privately-owned development company which focusses on regenerating choice sites into high-quality, mixed-use
neighbourhoods throughout London and in other major UK cities. - Since 2002 Hadley Property Group has delivered in excess of 2500 homes in London. There are 2,300 units in the current Hadley pipeline with a combined GDV of £1.1bn.
- Hadley Property Group is backed by a parent company made up of Hong Kong-based Peterson Group and Alvarium Investments, an independent global boutique
investment platform advising institutional and private clients.
About Peterson Group:
- Peterson Group is a private company headquartered in Hong Kong with a focus on property and financial investment.
- Peterson Property is the cross-border property arm of the group, with investments across countries including Hong Kong, the United Kingdom and Canada. Its portfolio consists of different asset classes including residential, office, retail, and hotels.
- Peterson Capital is the investment arm of the group which conducts investments globally in liquid and illiquid assets ranging from private equity, structured finance,
public bonds, public equities across all industries.