New London offices
are to be built at Silvertown Quays, following the development contract being awarded to Chelsfield Consortium.
Located on the Royal Docks of London, the 50-acre site will now undergo a £1.2 billion makeover, with Chelsfield Consortium consisting of Chelsfield Partners, Imagination Europe and First Base.
Plans include the delivery of 228,570 sq m of commercial and retail space, as well as more than 126,000 sq m of housing. The Silvertown Quays development is also expected to create approximately 9,500 jobs when construction is finished.
Mayor of London Boris Johnson commented: "Despite one of the harshest economic climates in decades an urban renaissance is underway in east London and I have no doubt that Silvertown Quays will become a business destination of worldwide appeal."
The decision to appoint Chelsfield Consortium was made by the London Development Agency (LDA), as the land is owned by the government. The body's chief executive Lurene Joseph said the strongly-contested bidding process to secure the development contract "is further evidence of the catalytic effect of the Olympics, helping renew the Royal Docks, London's greatest development opportunity".
LDA's vision for the Royal Docks includes turning it into a significant business hub where organisations want to snap up new London offices
, as well as encouraging people to set up home there through improved public transport links and a transformed waterfront. It also wants to turn it into a popular tourist destination via the development of attractions.
Some of the highlights of the area surrounding the Royal Docks include the nearby University of East London - which has more than 23,000 students - the O2, ExCel London and London City Airport. From the aviation hub, employees can fly out to other business centres such as Brussels, Copenhagen, Madrid, Frankfurt, Zurich, Paris and New York.
Posted by David Hudek
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