INDUSTRY NEWS

£3.5bn Silvertown Quays development given go ahead

Newham council have given the go ahead for the Silvertown Quays development project. The Royal Docks renovation is estimated to cost around £3.5bn.

The council’s Strategic Development Committee backed the 62 acre scheme which is set to create 20,000 jobs, 3000 homes, a school and more than 190,000 sq. ft of London office space.

Former flour mill Millenium Mills will be transformed into a hub for tech, media and telecoms businesses in the first phase, which is scheduled to be completed by 2018. The entire project is expected to take 10 years.

Newham, Mayor, Sir Robin Wales, said of the development, “this multi-billion pound transformation is a fantastic opportunity to reinvigorate the Royal Docks area giving it a new lease of life benefiting Newham and the capital as a whole.

“Our vision is to transform the area into a world class business centre that not just entices established companies but also creates an exciting and vibrant place for new companies to grow and flourish.”

The project is still anticipating confirmation from the Mayor of London, the Secretary of State for Communities and Local Government and the Secretary of State for Transport before a final decision is made and building work can begin.

By: Kirsty MacGregor

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