The proposed redevelopment of the Blossom Street district will become a key factor in the economic success story of the Spitalfields area, the City of London Corporation claims.
The scheme, to be delivered by British Land in partnership with the Corporation, will provide small business space, create jobs and boost local spending, says Alastair Moss, the elected Chairman of the City’s Property Investment Board.
British Land submitted a planning application for the redevelopment of the two acre site last December. The proposal will deliver a total of 347,000 sq ft of office space, 13 new retail units and 40 residential apartments.
The developer appointed architects to draw up plans which will integrate the new buildings into the historic fabric of the area through a mixture of refurbishment, extension and redevelopment.
This will involve some of Blossom Street’s historic warehouses being converted into office space, while others will be demolished to make way for new buildings. In some cases the facades will be retained and incorporated into the new design.
British Land consulted widely with English Heritage, design group CABE and the local Conservation and Design Advisory Panel, prior to submitting its planning application.
Despite this, opponents of the scheme claim it will result in the loss of 70 per cent of the buildings within the Elder Street Conservation Area, and have drawn up an alternative plan to restore the properties and bring them back into use.
The City believes these concerns are unfounded and insists the scheme is a sensitive and imaginative design which mixes the best of the old with the new and, crucially, one which will deliver 85 per cent of the SME space needed by the rapidly growing district by 2019.
Speaking after a stakeholders meeting earlier this week, Mr Moss said: “We are confident that this scheme will deliver the right jobs-space, independent retail and new residential stock that’s needed to this much loved area – to provide just the boost that it needs.
“Getting the right mix that secures 2,650 jobs in this important new work district has taken a great deal of consideration and thought – and I am sure workers, residents and visitors will be enjoying this enlivened quarter right through the 21st century and beyond. The scheme takes the best of its proud economic and architectural history and gives it a future.”
In addition to the start-up and SME space, the scheme comprises a significant proportion of flexible and ‘grow-on’ space targeted at businesses looking for larger premises, which is a key objective of the GLA for the City Fringe, Mr Moss added.
The City estimates that the regeneration of the Blossom Street area will generate an additional £6.1 million in local spending by residents and workers, together with the social and economic benefits the new businesses will bring.
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