Newham Council claims that as many as 20,000 new jobs will created following its decision to back a 62-acre waterfront development at Silvertown Quays in the East End of London. The £3.5bn landmark development is intended to breathe new life back into the Royal Docks.
The Silvertown Partnership (TSP), with the support of the council’s Strategic Development Committee, will now press ahead with its seven-million sq ft vision for the dockland site — once known as the warehouse of the world.
As well as containing almost two-million sq ft of office space the site will also include 2.3m sq ft of “brand units”; showcasing, displaying and promoting a range of uniquely British products. There will also be 3,000 new homes supported by an on-site school.
Funded by a £12m Department for Communities and Local Government grant, work has already started on preparing the 450,000sq ft Millennium Mills building (pictured below) — once owned by Rank Hovis McDougall — as a high-tech start-up business hub. It will open in time for the 2018 Crossrail opening, giving Silvertown direct connectivity with existing Docklands Light Railway services to the adjacent London City Airport and beyond.
“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,” commented the mayor of Newham, Sir Robin Wales.
“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.”
TSP has claimed that once completed Silvertown Quays — with its half-a-mile of river frontage — will attract around 13m UK and international visitors a year, pump £33m into the local economy and add at least £260m to the capital’s economic turnover.
Once employing more than 100,000 people, TSP chief executive Simon Webster is convinced the Royal Docks are destined to be London’s newest and biggest creative community. “Silvertown Quays will offer 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,” he said.
“It is a much-needed scheme for this part of London, creating opportunities for employment and long term benefits for the local economy,” Webster added. TSP has already contracted a number of agents to handle the scheme’s commercial lettings including: Jones Lang LaSalle, Cushman and Wakefield, Pilcher Hershman and retail advisors CWM.
The application will now be referred to the Mayor of London and then to both the Secretary of State for Communities and Local Government and Secretary of State for Transport before a final decision is made.
