Oracle Group has revealed plans for its Canary Quarter scheme in East London as part of £2.5bn development plans.
The Epsom-based private developer, set up eight years ago by David Burke, has unveiled plans for the £305m mixed-use scheme on the former Indescon Court site on Millharbour, E14.
The 30-storey scheme will comprise 950 homes, a hotel, shops and offices.
It will also serve as the new regional offices for Oracle Residential’s London & East Division, the first of five regional offices to be set up in the UK, by the company, 90% of Phase I of the development has already been sold off plan, through Oracle’s joint venture partners on the development, Galliard Homes.
The scheme is part of Oracle’s plans to become the third biggest developer in the Docklands area behind Canary Wharf and Ballymore.
Chairman and founder, David Burke, said: “We have around 13 acres of development land in the Docklands area, which puts us in the top three landowning developers in the area, along with Ballymore and the Canary Wharf Group.
“In the last eighteen months alone we have spent a total over £430m on land acquisitions.
Darryl Flay, Chief Executive of Oracle Residential, said: “We aim to be in the top ten house builders in the UK by 2012, building 2,500 units per annum.”