Greenland Holdings Group, a Chinese real estate developer, has bought the historic Ram Brewery site in Wandsworth from UK developer Minerva, making its first acquisition in the UK. Minerva won planning permission for the site on July 23, 2013 from the London Borough of Wandsworth’s planning committee. The planning application was submitted by Minerva in November 2012, and is the centerpiece of Wandsworth town centre’s regeneration plans.
The development will deliver 661 new homes, and will include a 36-story landmark residential tower and 248 parking spaces for the apartments. In addition, it will provide approximately 100,000 ft² of retail and leisure space, along with ancillary space including a micro-brewery and museum. It was reported that the completed development will be valued at £600 million (approx. €722 million).
Established on July 18, 1992, Greenland Group has become one of the biggest state-owned companies in Shanghai as well as a leading real estate developer in China.
Source: Bloomberg
