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Royal Docks: Unlocked: 2037 Economic Vision

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Royal Docks: Unlocked: 2037 Economic Vision Appendix 2 FINAL DRAFT - V4 ROYAL DOCKS:UNLOCKED 25/02/2016 25 February 2016 2 ROYAL DOCKS 2037 ECONOMIC VISION – INFRASTRUCTURE INVESTMENT PLAN DRAFT V4 - 25/02/2016 TABLE OF CONTENTS PRESENTING THE ROYAL DOCKS 3 ROYAL ALBERT DOCK 18 C1. ROYAL ALBERT EAST TO BECKTON - PHASE 1 (2016-18) 19 VISION – A PLACE OF MANY PLACES 6 C2. ROYAL ALBERT WEST TO LCY - PHASE 2 (2019-23) 19 C3. BECKTON DISTRICT PARK TO NORTH NEWHAM INTRODUCING THE INFRASTUCTURE INVESTMENT PLAN 8 - PHASE 2 (2019-23) 19 ROYAL ALBERT BASIN & GALLIONS REACH 20 INPUTS & OUTPUTS 10 D. ROYAL ALBERT BASIN - PHASE 2 (2019-23) 21 ROYAL DOCKS 2016 -> ROYAL DOCKS 2037 & BEYOND 10 NORTH WOOLWICH 22 PHASING & DELIVERY 11 E1. NORTH WOOLWICH - PHASE 1 (2016-18) 23 E2. NORTH WOOLWICH - PHASE 2 (2019-23) 23 A COMPREHENSIVE PLAN 12 THE STRUCTURE OF THE PLAN 12 CONNECTIONS 24 CAPITAL INVESTMENT PACKAGES 12 F1. LEAWAY - PHASE 1 (2016-18) 24 ROYAL DOCKS-WIDE PROJECTS 12 F3. CANNING TOWN TO CITY ISLAND - 24 F2. PEDESTRIAN AND CYCLE LINKS TO ISLE OF DOGS - ROYAL VICTORIA 14 PHASE 2 (2019-23) 24 A1. ROYAL VICTORIA - PHASE 1 (2016-18) 15 G. EXCEL LONDON EAST - PHASE 3 (2024-37) 15 F4. ROYAL VICTORIA TO TRINITY BUOY WHARF - PHASE 3 (2024-37) 24 SILVERTOWN 16 B1. SILVERTOWN QUAYS - PHASE 1 (2016-18) 17 DLR NETWORK-WIDE 25 B2. SILVERTOWN, PONTOON DOCK DLR AND BARRIER PARK H1. PHASE 1 (2016-2018) 25 – PHASE 2 (2019-23) 17 H2. PHASES 2&3 (2019-2037) 25 ROYAL DOCKS: UNLOCKED 26 ROYAL DOCKS 2037 ECONOMIC VISION – INFRASTRUCTURE INVESTMENT PLAN 3 DRAFT V4 - 25/02/2016 PURPOSE The Greater London Authority, the London Borough of Newham and Transport for London have jointly commissioned an Economic Vision and supporting Infrastructure Investment Plan for the Royal Docks. The objective of the commission is to provide a holistic understanding of the infrastructure - in its widest sense - required to support the economic transformation of the Royal Docks, particularly focused on its five districts and including the Royal Docks Enterprise Zone. The Infrastructure Investment Plan is aimed at realising the benefits of the Enterprise Zone – a 125 hectare area of land, owned by the GLA, for which incremental business rates can be raised and then deployed to support and catalyse development. This Economic Vision highlights the opportunities and challenges for the Royal Docks, and their context within Newham, London, and the wider South East and illustrates a series of infrastructure projects and packages considered critical to realising their transformation into London’s next business district. 4 ROYAL DOCKS 2037 ECONOMIC VISION – INFRASTRUCTURE INVESTMENT PLAN DRAFT V4 - 25/02/2016 PRESENTING THE ROYAL DOCKS This document sets out an economic vision for the Royal Docks. LOWER LEA The vision demonstrates that the Royal Docks are integral to delivering key VALLEY AND economic priorities both for Newham and London. It describes the overarching STRATFORD objectives for the Royal Docks, followed by the infrastructure investment plan which sets out a series of priority packages and projects considered essential to delivering these objectives. These are designed to ensure that substantial 4 numbers of jobs, associated economic development and homes planned for the Royal Docks over the next 20 years will be secured. CITY FRINGE/ CREEKMOUTH TECH CITY BARKING CENTRAL CITY ROYAL THE ROYAL DOCKS HAVE PLAYED A CRITICAL ROLE IN BOTH LONDON CANNING TOWN ISLAND DOCKS BECKTON THE PAST AND PRESENT OF LONDON’S ECONOMY. Historically, the Royal Victoria, King George V and Royal Albert Docks enabled 1 GREENWICH SILVERTOWN London to grow and develop. They became an integral part of London’s economic PENINSULA NORTH WOOLWICH 2.ISLE OF DOGS heart: the busiest port in the world for most of the 19th century. However, as the ROTHERHITHE structure of London and the UK’s economy shifted away from manufacturing and towards high value-added services and with the increase of containerised freight WOOLWICH THAMESMEAD activities in deep water sea ports, the Royal Docks lost their economic purpose 3 and entered into a long and sustained period of decline. Since the 1980s new economic functions have emerged in the Royal Docks that are reflective of London’s continued status as the world’s most competitive city and the number one location for business. The Royal Docks are now host to some of London’s most prominent global assets, including ExCeL London, City Airport and UEL. They are already well connected with direct DLR services into Canary Wharf and the City, the Emirates Air Line to Greenwich Peninsula, a wide range of strategic bus services linking to the orbital rail routes. Their connectivity will be boosted significantly in 2018 when Crossrail opens at Custom House. Economic London expanding East Welcome to London’s biggest economic development opportunity, on one of growth is well underway at Royal Victoria with a host of new hotels, restaurants London’s most iconic waterfronts. The Royal Docks were once at the heart of and leisure opportunities, in addition to the iconic visitor attractions of the London’s position as the most important city for international trade. Now their Siemens Crystal and Emirates Air Line. Major new residential communities are huge development potential is being unlocked to restore them to their historical planned and underway across the Royal Docks. prominence. The Royal Docks offer an unmatched scale of land, water and development opportunity in London. They are truly a place of many places with Now the Enterprise Zone will transform the future of the Royal the capacity to host new and growing commercial sectors, brand new residential Docks into a new heart for London’s economy. communities and local centres, and vibrant leisure and entertainment districts. In 2012, The Mayor of London and the Mayor of Newham challenged the market to The Royal Docks are at a pivotal moment in their history. establish the Royal Docks as London's new business district with the creation of the Royal Docks Enterprise Zone. It provides a 25 year programme of investment A critical mass of development both planned and underway will transform the area and incentives designed to generate, stimulate and attract further investment and into a new business centre for London, restoring the Royal Docks to their rightful economic growth. place: central to London’s position as the number one global city. However this development needs to be supported by significant investment in infrastructure The Royal Docks offer a regeneration opportunity on a global scale. The Enterprise and other supporting services. Zone will generate 40,000 jobs, 20,000 new homes and over £5bn in inward investment by 2037. Building on its considerable existing international profile, It is vital to maximise opportunities in the Royal Docks during this period of the Enterprise Zone has attracted major committed developments and inward substantial investment and subsequent growth across the capital. By mobilising investment. The UK’s first Asian business park is planned at Royal Albert Dock and this investment, one of London’s greatest regeneration opportunities will be able a new commercial and brand hub is planned at Silvertown Quays, focused around to realise its enormous economic potential. the iconic Millennium Mills. It will host some of London’s SMEs, international blue- chip companies and brand-led experiences. ROYAL DOCKS 2037 ECONOMIC VISION – INFRASTRUCTURE INVESTMENT PLAN 5 DRAFT V4 - 25/02/2016 LONDON'S ONLY BUSINESS ENTREPRISE ZONE To fulfil their economic future the Royal £5.2 BN The Royal Docks will be a success story for GROSS DEVELOPMENT £Xmillion Docks will need to be supported by critical £ ANNUAL BUSINESS RATES Newham and London. VALUE investment in supporting infrastructure and BY 2037 For Newham, they will deliver a significant boost to income services. and employment, both changing the employment profile £2million of the borough by bringing in thousands of highly-skilled The investment need is immediate and acute. In order to ANNUAL BUSINESS RATES jobs in an expanded business base and through increasing deliver growth, investment is needed to surmount significant income levels. They offer the crucial space needed for IN 2016 challenges. The Royal Docks face severe levels of spatial, housing growth, new schools, community facilities, and economic and social challenges. Spatially, the Royal Docks transport links to other parts of Newham, with close to are cut off by road, rail and water infrastructure. Investment 125 20,000 new homes planned over the next 20 years. In this is needed to fund projects that overcome these barriers. HECTARES OF way, the Royal Docks will make a considerable contribution Currently they are an unestablished economic location. towards meeting Newham’s convergence objectives. ENTERPRISE ZONE There is a need to incentivise and support the huge scale of inward investment that will be required to realise For London, together with neighbouring Opportunity Areas, planned developments. Socially, the Royal Docks include the Royal Docks will cement London’s position as the communities that are isolated and contain pockets of number one global city for business, employment, students significant deprivation. Investment is required to support 40,000 and visitors. They offer unmatched capacity for London to NEW JOBS BY 2037 8,000 these communities by improving employment prospects, STUDENTS IN 2016 grow and improve its economic resilience. They offer the increasing income levels and raising quality of life. space for new sectors to develop and cluster. They also offer the space for new and existing businesses to grow, in space The size of the Royal Docks is also a challenge. As a point of that is under pressure elsewhere in the city. With up to 10 reference, the 4km stretch of water in the Royal Docks is the million square feet of commercial floorspace planned, the equivalent distance of Hyde Park to Whitechapel.
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