Isle of Man-based property development company Artisan Real Estate Investors Limited has expanded its portfolio to London with the acquisition of a new site in the Royal Borough of Greenwich.

The site represents the company’s third acquisition this year which, along with existing development projects in Edinburgh takes their project pipeline up to more than £400m.

Woolwich is at the heart of the Thames Gateway regeneration area which is currently seeing significant investment in transport, business, and housing - expected to bring 5,000 jobs to the area.

The £116m development is intended to complete by December 2020 and will, subject to planning, deliver a vibrant public square, new retail units and over 300 homes in the town centre.

Currently one of the most affordable areas of London, Woolwich will become an ideal location for commuters on the opening of the new Crossrail station in 2018 which will cut travel times in half and make Canary Wharf just an eight-minute journey.

The Crossrail station is situated within 500 meters of Artisan’s new site.

Isle of Man based based chief executive officer Jaco Jansen said: ’This site is strategically important to Artisan as we make our first significant acquisition in Greater London.

’Having an experienced, skilled and committed partner in from House of Hiranandani working with us on this development gives us a lot of confidence that we can optimise the outcome for all stakeholders in the area.

’We look forward to delivering a high quality development that will make a significant contribution to the ongoing regeneration of the Woolwich area.’

An artist’s image of part of the project in the Royal Borough of Greenwich

Jaco Jansen, pictured at the June 2016 opening of the Artisan Real Estate Investors office on the second floor of Clarendon House, Victoria Street, Douglas. He said that the company is very much been at home on the Isle of Man and remains firmly headquartered here continuing to expand its team locally.