Royal Docks regeneration plans costing £314 million are given the green light
PUBLISHED: 12:00 28 June 2018
Notting Hill Housing
Plans for the regeneration of the Royal Docks have been given the go-ahead.
Details for a Royal Docks Enterprise Zone costing £314 million were signed off on Wednesday by mayor of London, Sadiq Khan, and Newham’s mayor, Rokhsana Fiaz.
The plans, which will be put into force over the next five years, are expected to generate 35,000 jobs and create 4,000 homes.
Ms Fiaz said: “This is exciting news for Newham. The potential of this investment to improve the lives of our residents and benefit the whole of London is great and will fully involve our local residents. I am pleased that they will be at the heart of this exciting regeneration project with businesses from around the world.”
The Royal Docks is London’s only ‘enterprise zone’, a space where employers can receive business rate tax relief and financial support.
The plans were officially signed off by the London Economic Action Partnership, which is responsible for allocating the funding raised by the enterprize zone.
The plans will include investment into transport, as well as more affordable workspaces in underused sites. There will also be an employment and skills programme to train people from Newham.
Sadiq Khan said: “Today marks a major step forward in the development of this site, which has the potential to become not only an important new business destination but also a key part of the capital’s cultural life.
“I’ve vowed to be the most pro-business Mayor that London has ever had. Through these plans to attract businesses and talent into the Royal Docks, we are aiming to unlock this area’s potential.
“The Royal Docks was once an economic powerhouse – with these plans we are aiming to lay the foundations so that it can once again play a crucial role in the life of the capital.”
London Assembly member for City and East, Unmesh Desai, added: “I am delighted that there is a real focus in the plans to generate much needed affordable workspace and local employment programmes.
“Regeneration schemes like these, which prioritise the needs of the community, are integral to Newham’s future, ensuring that it will become a sought-after destination for the capital’s leading businesses and creative talent. London is moving east.”