PM-backed rival to Canary Wharf to be sold

A £1.7bn London Docklands project that Boris Johnson tipped as a rival to Canary Wharf has been put up for sale after the developer behind the project fell into administration. Six buildings at the Royal Albert Dock development are being sold by Savills. The developer behind the proposals, ABP (London), is run by Chinese tycoon Xu Weiping. The company collapsed earlier this year following an extended period of troubles that Mr Xu blamed on the UK's decision to leave the European Union. The site is one of the most ambitious in London, with 4.7m sq ft of floorspace planned. Mr Johnson said in 2013 when the project was announced that the commercial, retail and leisure complex on publicly owned land would create thousands of jobs and turn the 19th-century docks and waterways into the "arteries of trade and commerce" once more.

The Sunday Telegraph