The Silvertown Partnership has confirmed that it has been given resolution to grant planning permission for work to proceed at Silvertown, the extensive 62 acre Royal Docks site in East London.
Newham Council confirmed the planning status for the development last night, which will result in the creation of up to 20,700 new jobs over a 10 year period, bringing vital employment opportunities to the local community of which 26% will be entry level jobs and 21% for semi-skilled workers.
The mixed use site will create a vibrant new part of city including two million square foot of office space, three million square foot of brand experience spaces and 3,000 new homes of a range of tenures, including affordable housing for Newham residents.
The project will see the reinvention of trade in the Royal Docks, an area with a rich history of imports and exports which fuelled the UK economy. Once known as the ‘warehouse of the world’, at the height of its success the Docks employed over 100,000 people. Silvertown aims to recreate this sense of industry, not with goods and materials, but the brightest ideas and most creative businesses exporting their good, knowledge and services.
This will see a complete regeneration of this neglected part of London into a 24:7 destination for business, visitors and residents.
The first phase, which aims to be finished by 2018 in time for the new Crossrail connections, will see the 450,000 sq ft Millennium Mills site brought to life with innovative, technology, media and telecoms businesses of varying scale housed in the iconic former flour mill.
Work commenced earlier this year to strip out asbestos from Millennium Mills as part of a £12 million grant by the Department for Communities and Local Government.
London’s new creative capital
Once the beating heart of world trade but abandoned for over 30 years to become a haven for film-makers and urban explorers, the plan is to attract global organisations from commerce, academia and research while creating a cutting edge future for the Royal Docks.
The end vision is to breathe new life back into this area of London, with significant commercial and brand space, nearly 3,000 homes, community facilities (school, health centre), restaurants and local retail facilities.
The development will feature cutting edge design, strong environmental and tech credentials and inventive and inspiring public realm and water frontage.
The east London story continues
This part of East London is designed for the start-up culture fermented by Old Street, Farringdon and Shoreditch, but in a ready-made location with room to spare. As London’s centre shifts to the East, Silvertown is the natural destination for brands and people looking for a unique space in the capital.
By 2018 it will be connected by Crossrail, 17 minutes to The West End and it sits alongside City Airport, close to the O2, Canary Wharf and Stratford.
“We are delighted to receive the go-ahead for this vital scheme,” said Simon Webster, Silvertown Partnership Chief Executive. “This part of London is now destined to be a creative hub for our Capital, offering a new, easily accessible location for innovative businesses, as well as housing for Londoners and amazing new brand experiences to attract visitors from the UK and abroad. It is a much-needed scheme for this part of London, creating opportunities for new employment and long term benefits for the local economy.”
The site sits on a waterside location on the south side of the Royal Victoria Dock opposite ExCeL. Situated in the heart of the Royal Docks Enterprise Zone, the site will be connected to the ExCel via a new bridge. City Airport and Canary Wharf are close by.
The development will create:
· 5,000 new jobs in phase one
· Up to 20,700 new jobs in total, over 40% of which are expected to be for local people
· 13 million visitors per annum
· Additional spending power of £33m per annum when complete
· £260m per annum gross value add for the London economy
· £3.5bn gross development value
At completion the entire development will incorporate circa 7 million sq ft of new residential and commercial space including:
· 3 million sq. ft of brand spaces
· 2 million of residential (up to 3,000 new homes)
· 2 million sq. ft of commercial space
The Mayor of Newham Sir Robin Wales, said: “This multi-billion pound transformation is a fantastic opportunity to reinvigorate the Royal Docks area giving it a new lease of life benefiting Newham and the capital as a whole.
“Our vision is to transform the area into a world class business centre that not just entices established companies but also creates an exciting and vibrant place for new companies to grow and flourish.
“This scheme builds on our commitment to further enhancing the quality of life for our residents and the opportunities available to them through developing the arc of opportunity spanning the Royal Docks, Stratford and Canning Town.
“This project will create a new destination for people from across Newham, the rest of the capital and from abroad and will once again showcase everything that is good about the borough.”
The Silvertown Partnership (TSP) is a consortium consisting of Chelsfield Properties Ltd, First Base Ltd and Macquarie Capital. The team has a track record of delivering exciting new places across London, including Stratford City, Broadgate, Stockley Park, The Treasury Building and Chiswick Park; as well as some of the capital’s greatest cultural centres, including Tate Modern, The National Gallery and The Royal Opera House. The project is being delivered in partnership with the Greater London Authority.
TSP is working with a team of leading architects to deliver this project, including: Fletcher Priest, Allford Hall Monaghan Morris (AHMM), West 8, Fielden Clegg Bradley and Benoy.
A number of commercial agents have also been appointed to handle commercial lettings including: JLL, Cushman and Wakefield, Pilcher Hershman and CWM.