INDUSTRY NEWS

Squatters keep development ‘on hold’

Squatters are blocking a commercial property redevelopment in east London, hoping developer, Hammerson, will reconsider its plans for the plot, the Evening Standard has reported.

Despite the developer’s assurances to preserve the site’s historic Victorian workshop, the squatters fear it will not survive the development.

"The building next door was demolished without conservation area consent some years ago and there is a lot of pressure on this site," Heloise Brown, an adviser to the Victorian Society, told the paper.

Current plans for the build include the redevelopment of land east of Shoreditch High Street and the construction a 51-storey tower.

The scheme is known as Bishop’s Place and when completed will feature commercial properties, residential flats and a hotel.

Councillor Guy Nicholson, Hackney’s cabinet member for regeneration, said the redevelopment should encourage continuing economic activity while "protecting the architectural legacy that makes the area so successful".

The Property Law website has noted that under the Land Registration Act 2002, a squatter will be entitled to apply to the Land Registry to be registered as proprietor after ten years’ adverse possession.

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