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EAST LONDON AUTUMN 2017 INSIGHTS DEVELOPMENT NEWS AND UPDATES FROM HACKNEY, TOWER HAMLETS AND NEWHAM AUTUMN 2017 BROCKTON CAPITAL SHOREDITCH SCHEME GIVEN GO AHEAD OLYMPIC LEGACY AND STRATFORD’S TRANSFORMATION A LOOK BACK ON THE LAST 10 YEARS SINCE THE CPO EAST LONDON INSIGHTS OLYMPIC LEGACY AND STRATFORD’S TRANSFORMATION OLYMPIC TIMELINE Stratford aerial photos 2007 2003 - 2004 ‘Back the Bid’ to bring the Olympics to London London announced as the next host during July 2005 the Singapore games November 2005 Two Compulsory Purchase Orders Spring 2006 Public Enquiry (3 Months) December 2006 Confirmation of CPO July 2007 Vesting & Possession of Property 2007 - 2009 Remediation of Contamination 2009 - 2011 Construction of Stadium, features, etc. 2011 - 2012 Organisation, Security & Practice July 2012 London 2012 Olympics (7 ½ weeks) 2013 - 2020 Olympic Legacy Developments Stratford aerial photo 2017 AUTUMN 2017 A look back on the last 10 years since the CPO THE OLYMPIC SITE …10 Years on Many areas of London have undergone significant change over the last decade, and one golden example is Stratford. London made a prime candidate for the games due to its redevelopment potential and legacy the Olympics would leave. David Higgins, Olympic Delivery Strettons’ recent history is deeply Authority Chief Executive said on interlinked with the redevelopment of appointment, “Our challenge is Our challenge is to Stratford and the surrounding areas. to successfully manage both the successfully manage both As the London Development Agency requirements of the games and the requirements of the led the compulsory purchase of the land to develop the stadium and other the long-term regeneration of East games and the long term venues, we worked closely with clients London. Achieving both of these will regeneration of East London. within the Olympic zone. As the CPO bring fantastic opportunities for the Achieving both of these will whole of the UK.” progressed, we became involved in bring fantastic opportunities consulting on schemes around the for the whole of the UK.” July 2017 marked ten years since the site, where we are still seeing projects Olympics compulsory purchase orders David Higgins, come to life or are soon to come to (CPO) and now, just over five years Olympic Delivery Authority Stratford. Chief Executive since the 2012 opening ceremony in London, the area is still developing with widespread regeneration taking place to create new communities of homes, businesses and leisure spaces. strettons.co.uk EAST LONDON INSIGHTS Olympic Zone Stratford City (Former Railway Yards) Aerial photo - during the build THE STARTING LINE Since the CPO came into effect in west Stratford, making it possible for the London Development Agency to undertake the necessary work to create the site for London’s 2012 Olympic Games, the area has become one of the largest regeneration CPOs in Europe. This resulted in numerous major business relocations with many being moved to new industrial estates in Beckton, Enfield and Leyton. There is a common misconception Plans for the development of Stratford Olympic zone who held circa that west Stratford was a wasteland Rail Lands (a former International 1 million ft2, or 40%, of the total floor before the Olympics. However, Rail Terminal) gained outline planning space that was to be compulsory prior to the CPO, Stratford was permission in 2003 before London acquired. Many of these businesses a thriving industrial area centred was selected to host the 2012 were relocated and we dealt with around Marshgate Lane with over Olympic Games in 2005. The work compensation claims resulting from 300 businesses large and small. These was to be privately funded by this disruption, helping the businesses businesses had to be relocated, along LendLease and London Continental keep steady through the transition and with a large estate of houses and flats, Railways and is now Stratford City make the most of their relocation. whose residents had to be re-homed. including Westfield Shopping Centre and the International Quarter. The A further misconception is that development of Stratford West the development of Stratford was Industrial Area was publicly funded and funded by public money and that it subject to the CPO was one development site focused and became the site for the London on delivering the best games in the 2012 Olympics. history of the Olympics. In fact, there were two areas of regeneration, Strettons were actively involved in Stratford Rail Lands and Stratford helping many of those companies West Industrial Area. affected by the CPO. We acted on behalf of occupiers and owners in the West Ham’s stadium AUTUMN 2017 GOING THE DISTANCE… THE REDEVELOPMENT LEGACY The former Athlete’s Village is now a residential development, The East Village, and already contains nearly 3,000 new homes. The park is being further developed over the next 20 years to bring in five new neighbourhoods of over 10,000 new homes, commercial spaces and other uses. Stratford itself and the surrounding areas have seen a surge in start-ups and a substantial technology centre, which is home to some of Europe’s most advanced innovation spaces in HereEast. We don’t like to call it the ‘Olympic Effect’ as the area already had Victory Park, East Village its own plans in progress before the development around the area, bid, but Westfield Stratford, improved including the former industrial patch of infrastructure and the impressive Fish Island, Hackney Wick. This is seen commercial spaces that were built during by the creation of new communities the games brought considerable value drawn to the area by affordable to the area and much faster change than housing, new jobs and leisure activities. we would have otherwise seen. There are no signs of slowing down in areas around the Olympic site, and The Olympics has undoubtedly we look forward to seeing how it become the catalyst for further continues to grow. strettons.co.uk EAST LONDON INSIGHTS CONTINUED PROGRESS The nearby Hackney Wick: Fish Off the back of the redevelopment surge in Island, in particular, is much more Stratford and Queen Elizabeth Olympic Park, the whole of the area continues to benefit from diverse architecturally as developers numerous developments. Several mixed-use have only been allowed to develop schemes have been given the go ahead and will residentially on Fish Island as a result of provide housing and commercial space for the the Olympics planning policy changes. area and be integral to achieving the overall It now has a wider mix of uses and vision for optimising the space... Some within Stratford include: ownerships. Strettons is currently advising on several schemes within Hackney Wick including Iceland Wharf and Roach Road, Stratosphere and has been working on a few sites launching in 2018. Planning for this tower began in 2010 and its set to change Monier Road the skyline of the area. This Completing in 2018, 79-85 impressive development by Monier Road is an imposing 5 Telford Homes, which is fully storey modern building in the sold, will bring 245 residential style of the nearby commercial units to Stratford and will and industrial spaces that complete between autumn populate Hackney Wick: Fish 2017 and summer 2018. Island. Once finished, the office space will be in a workable shell condition. Stratford City Another impressive tower by Telford Homes clocks 1-2 Hepscott Road in at 33 storeys and boasts In the heart of Hackney 181 residential units which Wick, the Aitch & Mura joint are all fully sold. The scheme venture are bringing around commenced in 2014 and will 30 new homes and 9,000ft2 launch between August and of commercial space. December 2018. Contact a member of our team for progress and more information. Manhattan Loft Gardens Completing mid-2018, this high-end tower will provide a 150 room hotel, 253 WANT TO LEARN residential units and flexible MORE ABOUT Class A1-A5 space on the HACKNEY WICK? ground floor. Manhattan Loft View our newsletter at Corporation is providing the tower with full amenities and http://strettons.link/HW communal landscaped spaces surrounding. AUTUMN 2017 PLANNING AND DEVELOPMENT NEWS ...Newham, Tower Hamlets, Hackney NEWHAM CALLS FOR MORE EAST LONDON RIVER CROSSINGS Following Sadiq Khan’s decision in August Sir Robin said: “Large employers and international investors have made their intentions clear that they want to move to to cancel the Garden Bridge project, the east London to take advantage of the cheaper real estate and Mayor of Newham has called for more river the burgeoning tourist trade arising around Queen Elizabeth Olympic Park.” crossings to be built in east London. “TFL has strong and clear evidence that a road crossing at Sir Robin Wales has urged the Greater London Authority to Gallions Reach is the best option for tackling congestion and focus on east London and deliver more river crossings away supporting the current and future economy in this part of from central London. There are currently 22 river crossings London.” west of Tower Bridge and only two to the east, Blackwall Tunnel and the Dartford Crossing. In addition to the plans for the crossing at Gallions Reach, the planned Silvertown Tunnel is in the hands of the secretary of state for transport. strettons.co.uk EAST LONDON INSIGHTS PLANS TO BUILD 1,000 HOMES ON EXCEL LONDON CAR PARK The London International Exhibition Centre (ExCel) Residents in the new development will enjoy excellent has announced plans for a joint venture with developers transport links as it is close to the Elizabeth Line and Mount Avril to build 1,000 new homes at the Royal Docks. existing DLR stations at Custom House and Prince Regent. The new homes will be built next to Mount Anvil’s Should the proposals be granted planning permission, the 19 storey Royal Docks West Development.
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