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Newham set for massive economic boost after council backs plans for Silvertown Quays regeneration

22 April 2015 in Mayor and Regeneration
Thousands of new jobs and homes are set to be created in a £3.5 billion regeneration of Silvertown Quays after Newham Council agreed in principle to grant outline planning permission for the scheme yesterday (Tuesday 21 April).
​Up to 20,700 new jobs and 3,000 new homes – including affordable housing – will be created under the scheme backed by the council’s Strategic Development Committee. The major ten year regeneration project of the 62 acre site in the Royal Docks will be led by The Silvertown Partnership (TSP).

It is hoped that once complete it will attract around 13 million visitors a year from across the country and abroad, providing a £33 million a year boost to the local economy and adding around £260 million to the overall London economy.  

The scheme will see up to 179,000 square metres of office space and 222,000 square metres of brand units – showcasing, displaying and promoting a range of brands –developed along with homes and restaurants. A school will also be built on the site.

As part of the Section 106 legal agreement, the developer would provide £10 million to Workplace, the council’s job brokerage scheme, this would be used to provide training  and support for Newham residents to ensure they have the skills needed to take advantage of the 20,700 new jobs the development is expected to generate. 

Since it started in 2007 Workplace – which helps local residents take advantage of the job opportunities created as a result of regeneration schemes taking place across the borough – has helped more than 26,000 Newham residents into employment and more than 900 businesses fill their vacancies.

The Mayor of Newham Sir Robin Wales, said: “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.

“This scheme builds on our commitment to further enhancing the quality of life for our residents and the opportunities available to them through developing the arc of opportunity spanning the Royal Docks, Stratford and Canning Town. 

“This project will create a new destination for people from across Newham, the rest of the capital and from abroad and will once again showcase everything that is good about the borough.”

The application will now be referred to the Mayor of London and then to the Secretary of State for Communities and Local Government and Secretary of State for Transport before a final decision can be issued.