Silvertown launched; Cheesegrater tops out
Never one to shun the limelight, Boris Johnson has been out and about at new property developments in the capital in recent days. The Mayor of London last week confirmed a STG 1.5bn deal with The Silvertown Partnership – a consortium of Chelsfield Properties and First Base Ltd – for the redevelopment of Silvertown Quays in London’s Royal Docks into a new innovation quarter.
The site, currently owned by the Greater London Authority, will be turned into a cluster of purpose-built centres for product innovation by leading companies, knowns as ‘brand pavilions’ – the idea being that companies from around the world can use these to showcase product development – plus space for incubator and technology businesses, 1,500 new homes, restaurants and leisure facilities.
The 50-acre site is located within the Royal Docks Enterprise Zone and will gain a new bridge connecting it to the ExCel exhibition centre, as well as a new Crossrail station. Work on the first phase is due to start in 2014-2015 and the first businesses are scheduled to move in during 2017. It has been estimated that the whole development will create STG 6.5bn of economic benefit to the UK economy over the next 25 years.
The Silvertown Quays development is another part of the Mayor’s plans to invest in the area – other projects have included the cable car, new homes at Great Eastern Quay, the recently announced ABP business port at Royal Albert Dock and plans for a floating village at Royal Victoria Dock.
Boris Johnson said the Silvertown Quays development would not only bring thousands of new homes and jobs to east London: it would help to “unlock the economic potential of surrounding areas”. The Silvertown Partnership is working with Arup, Jones Lang LaSalle and Cushman & Wakefield.
Yesterday, the Mayor attended the topping-out ceremony at the so-called Cheesegrater building in the City – the 610,000 sq ft Leadenhall Building designed by Rogers Stirk Harbour and Partners and developed by British Land and Oxford Properties. The 224m-high building becomes the tallest in the City, the Times pointed out: it is due to be completed in mid-2014 and more than half of it has already been pre-let to Aon and Amlin.
Boris Johnson said at the ceremony: “The Leadenhall Building is the latest landmark to grace London’s iconic skyline, demonstrating our city’s ability to design and construct world-class architecture. This ambitious project has created jobs in London and elsewhere across the UK supporting great British manufacturing all over the country. The building’s soaring pinnacle symbolises the confidence in London’s status as a global centre of finance and trade.”
