Dalian Wanda invest in Nine Elms site

Thursday 20 Jun 2013

Chinese hotel and property firm confirms plans for five-star Wanda hotel in London

Yesterday, Chinese hotel and property developers Dalian Wanda announced plans to construct a 205m-high residential scheme with hotel units as part of the highly-publicised Nine Elms development on London’s South Bank. Nine Elms is a widescale residentail and commercial scheme incorporating the Kieran Timberlake and OLIN-designed US Embassy and redevelopment of the listed Battersea Power Station. Dalian Wanda’s investment in the scheme is £700m and the firm will be working with Kohn Pedersen Fox (KPF) based on the architecture practice's One Nine Elms concept.

The firm has planned two towers of 45 and 58 storeys with a 160-room Wanda hotel, the first overseas move by the luxury hotel brand. In total the project will encompass 105,000 sq m of which 20,000 sq m will be reserved for the hotel and 63,000 sq m for opulent apartment units.

John Bushell, KPF Principal, told WAN: “Wanda's vision for a significant 5 star hotel and their belief in the Nine Elms area will be the catalyst to transform the pace of development in this area, the next big thing in London after Stratford and the Olympics. KPF is very proud to have created the heart of a new cluster around the Vauxhall transport node - the most sustainable way of responding to London's need to grow. Having designed the scheme which recently achieved planning permission in this important regeneration site, KPF looks forward to a dynamic and purposeful new owner delivering a significant new building for London."

Formerly designed as a mixed-use development of office and residential units, the site will now be used for a residential and hotel complex. The building will replace a derelict 1970s office block and incorporate a number of public amenities at ground level including a public square with retail outlets and restaurants.

At the official announcement yesterday, Chairman of Dalian Wanda Wang Jianlin said: “Through the international development of Wanda hotels, we are confident that we will be the leader in bringing branded Chinese luxury hotels to the global market, where they have long been absent. The London property market has excellent investment opportunities and we have confidence that Wanda’s strength and expertise will make the Wanda London’s premier hotel, further promoting development in the area.”

The Mayor of London, Boris Johnson, said: “I warmly welcome Dalian Wanda’s investment into London as part of our plans to dramatically transform Nine Elms into a stunning quarter of the capital, providing thousands of new jobs and homes. City Hall and my promotional agency, London & Partners, have worked tirelessly with Dalian Wanda Group to secure this cracking deal, which is yet another sign of the soaring global confidence in London as world-beating place to live, work and do business.”

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