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Ballymore Group The New Providence Wharf is a residential development in the Blackwall district of the London Borough of Tower Hamlets , at the north end of the Blackwall Tunnel . It was designed by Skidmore, Owings and Merrill [ 1 ] and is managed by Ballymore , a property development company.
Ballymore Group's UK managing director is John Mulryan, who is a son of the founder. [ 2 ] [ 3 ] In January 2015, Ballymore announced a deal with Malaysian property investment company, Eco World, in which Ballymore sold its Wardian London , Embassy Gardens and phase two of its London City Island development to Eco World for £428m.
It was built by property development company Ballymore [2] and designed by architects Skidmore, Owings and Merrill. [3] [4] The Ontario Tower is a primarily glass and aluminium design. Its roof is sloped, with a blue LED-rimmed elliptical profile. [1] Construction began in 2004 and was completed in 2006.
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On 16 February 2012, Wandsworth Council approved Ballymore Group's plans for the 15-acre development. Embassy Gardens was intended to provide "up to 1,982 new homes alongside shops, cafes, bars, restaurants, business space, a 100 bed hotel, a health centre, children's playgrounds and sports pitches".
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Ballymore Group was founded in 1982 by Mulryan, then aged 28, who is the chairman. Ballymore has become one of the biggest providers of residential space in London. [9] In 2017, it was reported that the previous year's profits at the UK arm of Ballymore had increased almost three-fold to £154.9m (€217.6m). [10]
In January 2012, Canary Wharf Group took 100% control of the project by paying British Waterways £52.5m for their 50% stake and Ballymore £38m for their 25% stake. [14] [15] Under the agreement Canary Wharf Group has been a granted a new 250-year lease from British Waterways with ground rent payable which will grow to £6m per annum. [2] [16]