Move over Canary Wharf, there's a new East London business hub coming to town (maybe).
Boris Johnson has revealed plans to create 24,000 new homes and 60,000 jobs in East London today, as he heads to City Hall for his last ever Mayor's Question Time.
The Royal Docks are already a hive of activity ahead of the launch of Crossrail/the Elizabeth Line in 2018. Johnson today has launched a consultation on proposals to "transform further parts of the Docks and adjoining Beckton Riverside to become a world-class business destination".
The proposals aim to release surplus industrial land and improve occupancy on existing sites, which City Hall believes will open up further developable land on the north banks – potentially leading to the delivery of 24,000 homes and 60,000 new jobs.
They include recommendations for improved transport infrastructure, including proposing new routes, a river walk and a network of open spaces.
Sir Edward Lister, chief of staff and deputy mayor for planning, announced the consultation for the Royal Docks planning framework at Mipim in Cannes today. He and Richard Blakeway, deputy mayor for housing, are at the property conference to directly lobby key investors and developers for projects in London.
Lister said: “With careful planning, the potential exists to build on the work we have already done at Royal Docks and deliver tens of thousands more homes and jobs. I hope this consultation brings forward exciting ideas about how we can further regenerate this historic part of the capital.”
Johnson added: “This part of London was once a global standard-bearer for trade and industry and we are already bringing about a new era of prosperity with exciting schemes transforming Royal Albert Dock and Silvertown Quays.
"Now we want to take that success to a new level and transform further parts of the Royal Docks, capitalising on the potential of Crossrail and other transport infrastructure improvements to deliver more of the homes and jobs London so urgently needs.”
It follows a number of plans already in place to regenerate the area.
Chinese developer ABP has already secured planning permission to build "a large financial and business district" at Royal Albert Dock that will create more than 20,000 jobs, and generate £6bn to the London economy. Construction work will start on site later this year, alongside two new hotels which are already underway.
This comes on top of work to restore the "millennium mills" at Silvertown Quays, which will eventually result in more than 3,000 homes.