IKEA’s Real Estate Arm to Build Master-Planned Community in East London
- Jul 19, 2012
IKEA’s real estate arm, LandProp Holding, has begun a new 2 million-square-foot neighborhood just south of the Olympic Park in Stratford, an area of eastern London.
London Thames Gateway Development Corporation’s planning committee and London Borough of Newham’s Strategic Development Committee unanimously approved the development project for what is seen as a key regeneration site within the southern Olympic fringe.
The 26-acre Strand East development will feature 1,200 new homes, out of which 40 percent will have three bedrooms or more. There will also be around 620,000 square feet of commercial office space, a new 350-room Marriot hotel, local shops, restaurants and cafes. Designed by ARC-ML architects, the neighborhood will be built to a ‘human scale’ with the majority of the buildings at around four stories high, with a few ‘accents’ of up to 16 stories in order to act as markers for the grand scheme. The neighborhood will feature a creative zone, targeting creative industries, in the North East Quarter and a hub area in the south, offering facilities and shared space for the use of local communities. The architects will preserve the historical buildings and the industrial heritage of the site through the Walk of Chimneys. The Strand East neighborhood will also feature four new bridges, new pedestrian walkways and cycle routes, a new bus route as well as open spaces and parks.
“We are thrilled with this result,” said Andrew Cobden, LandProp Country Manager for the UK. “The unanimous decision to grant planning permission pays tribute to the collaboration between LandProp, our design team and LTGDC and Newham over the past 18 months. With this strong endorsement LandProp looks forward to making these plans a reality and continuing to work closely with all the key stakeholders.”
The project has received support from local officials since it was first proposed and is a prime example of the effects of the Olympic Games upon the capital city of England.
Mayor of London, Boris Johnson, at the time said: “This is yet another great example of the 2012 legacy rippling out of the Olympic Park and across east London,” said Boris Johnson, the mayor of London. “It will help create a vibrant quarter within the brand new district we are creating in London, providing much needed family-sized housing and new jobs. This huge investment shows the extraordinary confidence that exists for both this part of the capital and the future of the whole of London’s economy.”