European Commission clears plans for £1.3bn business district in East London

Stratford City scheme will delivery 4m sq ft of Grade A office space and create 15,000 jobs

Article posted: 21 Jan 2011

Plans for £1.3bn business district at Stratford City in East London took a step forward this week following the approval of the scheme by the European Commission. Joint venture arrangements between Lend lease and London & Continental Railways are in place which will see Lend Lease appointed as development manager for the site.

The new business district will deliver around 4m sq ft of grade A office space in east London with construction of the scheme expected to begin in 2013 following the 2012 Olympic Games.

The scheme is part of wider plans to create a new metropolitan centre in the heart of east London with residential, retail, leisure and office space together with new schools and a health centre. The £4bn project encompasses a 180 acre site with a scheduled completion date of 2025.

Commenting on the scheme Dan Labbad, CEO EMEA, Lend Lease said: “This milestone sets the pathway for establishing London’s most significant new business district since Canary Wharf. The district will have unrivalled connectivity with the City, central London and Canary Wharf, all just minutes away. And with the Queen Elizabeth Olympic park and a regional shopping centre on its doorstep, Stratford City is set to be an exciting new metropolitan centre for London.”

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Posted by Sara