Silvertown Quays redevelopment – the new heart of the East End? – The London Economic
Silvertown Quays

Silvertown Quays redevelopment – the new heart of the East End?

By Steve Taggart

A huge new development site will transform the East End of London. The Silvertown Quays redevelopment is a 62 acre site, located to the south of the Royal Victoria Dock, beside the ExCel centre in Newham.

It is hoped the scheme will become the beating heart of London’s new East end, due to it close proximity to City Airport and the golden triangle of the O2, Canary Wharf and the Olympic Park.

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.

According to CEO of First Base, one of the key partners in the scheme, Elliot Lipton, “Silvertown is a final part of the jigsaw for East London. It has the space, the scale and the access to bring together game-changing individuals and enterprises.  These are the people who will hustle, bustle and muscle the Capital to be the world’s first fast forward city.  And it will have a new centrepiece in Millennium Mills, housing half a million square foot of creativity”.

The Silvertown Partnership was appointed by the GLA in 2012 as the preferred development partner for Silvertown. The team have been responsible for many of London’s largest commercial and mixed use schemes including Paddington Basin, Stratford City, Broadgate, 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 end vision over 10 to 15 years 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. This part of East London is perfect for the start-up culture fermented by Old Street, Farringdon and Shoreditch, but in a ready-made location with room to spare.

The development will create:

         3,000 new homes

         5,000 new jobs in phase one

         Up to 21,000 new jobs in total, 80% of which are expected to be first jobs

         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

         2 million sq. ft of commercial space

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