London’s Royal Docks transformation boosted by £12m of goverment funding
Local Growth Minister Penny Mordaunt announced that the project would receive £12m of government funding, meaning it will now be ready to open in 2017, five years earlier than originally thought.
The Millennium Mills site has been unused for over 30 years, but it will be soon be ready to host the next generation of start-up businesses.
Commenting on the project, the Minister said: “It’s great to see work starting on Millennium Mills at London’s enterprise zone. This iconic building, once a symbol of decline, will be the centrepiece of a thriving new business district that will create thousands of new jobs and bring prosperity back to the docks.”
The 450,000 sq ft landmark will serve as the centrepiece of the £3.5bn Silvertown Quays project, which will deliver 5 million sq ft of business and retail space, creating over 20,000 jobs, 3,000 new homes and contributing around £260m to the London economy.
Silvertown Quays is planned to become a purpose built centre for product innovation, attracting top brands and customers alike. The historic waterfront will also be filled with retail premises, public spaces and galleries.
Sitting on the site of a former flour mill, the project represents the area’s transformation from the industrial age, to the digital era.