Mulryan in €3bn wharf proposal
Mr Mulryan’s company, Ballymore Properties, has teamed up with Canary Wharf plc and another property developer, Manhattan Loft Company, to pitch for the contract to develop London’s Wood Wharf.
The proposed development is a 20-acre site near to the existing Canary Wharf docklands project.
The new development will be a mix of commercial office space, a hotel and 1,500 luxury apartments, which is expected to regenerate the Wood Wharf area. The plan involves building around 3.6 million square feet of new facilities.
Three consortiums have been placed on the shortlist for the project. The others are British Land and a group led by the Royal Bank of Scotland.
Mr Mulryan is one of the biggest developers in Britain and Ireland. He has already been involved in a number of projects in the docklands area over the past few years.
His consortium are seen as favourites for the contract as Canary Wharf plc has successfully built and managed the eponymous development since the 1980s.
The Wood Wharf site is owned by the British government and managed by its waterways department.
A decision on who wins the contract will be made before the end of this year. Whoever wins the bid will build and maintain the sites, but it will remain in the ownership of British Waterways.
“We are delighted to have attracted such an excellent field of candidates and the high quality of all of the proposals has made this a challenging decision,” said British Waterways chief executive Robin Evans.
“This is a high calibre shortlist and we look forward to working with each prospective partner during the final stage of our selection process.”
It is estimated that around €2 billion will be spent by Irish people this year on property in Britain.
Earlier this month a consortium of high rollers acquired the Thames Court building in the City of London for €200 million.
And in April, Quinlan Private purchased the Savoy Hotel group for around €1.1 billion.
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