A £3.5bn development envisioned to transform Silvertown Quays into London’s “innovation quarter” has been unveiled.
Submitted plans will see the 62 acre derelict site replaced with 3,000 new homes alongside cafes, restaurants, commercial and community buildings.
The proposals by the Silvertown Partnership also include a new landmark bridge which will connect Silvertown Quays with the Crossrail station at Custom House.
It is estimated that the regeneration will attract 13 million visitors a year, contributing £260 million annually to the London economy and creating up to 21,000 jobs – making it the biggest jobs generator in London’s Royal Docks.
Millennium Mills will be among the restored icons from London’s industrial past, with asbestos set to be removed and vital structual renovations implemented to turn it into an attractive modern work space.
Sir Stuart Lipton, from The Silvertown Partnership, said the proposals represent “the next wave of change in east London”.
“Our vision for Silvertown Quays will create a new piece of our city with entrepreneurship, innovation and knowledge economies at its heart; meeting the needs of modern brands, businesses and people as well as delivering for the Royal Docks, for Newham and for London.”
The Royal Docks has been designated as London’s only Government-backed enterprise zone in recognition of its strategic importance.
Richard Blakeway, deputy mayor for housing, land and property, said:
“The Mayor is overseeing a massive regeneration of the historic Royal Docks returning them to their former glory as a centre for industry and innovation at the heart of the capital’s economy.
“This exciting redevelopment will help rejuvenate the area with thousands of new homes and jobs, and make London’s docklands a must go visitor destination for future generations.”
The Silvertown Partnership is a consortium of Chelsfield Properties, First Base and Macquarie Capital which have been responsible for a number of notable London developments, including in Broadgate and Chiswick Park.
For more information, visit silvertownlondon.com
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