Cheung Kong is caught up in a fight with residents over a proposal to redevelop a waterfront site into residential and commercial space
Residents in southeast London have mounted a campaign against plans by Cheung Kong (Holdings) to redevelop a 16-hectare site at Convoys Wharf in Deptford into a mixed high-rise residential and commercial complex.
The move threatens to stall the Hong Kong developer's ambitions to expand its British portfolio.
Cheung Kong and its ports-to-telecoms arm, Hutchison Whampoa, bought the site in May from Rupert Murdoch's News International, the publishing arm of News Corp, for $1.46 billion.
The site was formerly a newsprint and forest products port but has not been used since 2000.
Community activists have been fighting to preserve the site as a commercial waterway by pushing for the development of a cruise liner terminal. They did not rule out taking legal action to challenge Cheung Kong's redevelopment proposal, casting uncertainty over the project.