LONDON-Development Securities has been granted detailed planning permission for the first phase of its Royals business park in London Docklands. The first phase consists of two glass and steel buildings, designed by Aukett Europe, totalling 237,000 sf on five storeys. A start on site is expected next March with completion in summer 2003.

As development partner to the London Development Agency, Development Securities will develop the 50-acre site in phases. Overall, the outline planning consent for the Royals Business Park permits 1.6 million sf of offices and 100,000 sf of retail and leisure uses. The site is opposite London City Airport in the Royal Docks, and has a mile of water frontage onto the Royal Albert Dock.

Development Securities Director Julian Barwick said: ‘The Royals represents the final phase of 20 years of Docklands development. We are already receiving interest from financial services and other companies presently located in or close to the City whose principal motivation in moving is cost advantage.‘

Letting agents are Atis Real Weatheralls and Knight Frank.

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