The Stratford area of London has been a major fulcrum of development in the east of the capital since the decision to build the 2012 Olympic Park there, but the growth of the area is continuing a decade after the Games.
In the latest case, Telford Developments has bought up a site close to Stratford International Station in order to build two new residential tower blocks. The land was sold by a tripartite partnership of London & Confidential Railways (LCR), the Department for Transport and HS1. The land currently houses the station’s taxi rank.
The project will provide 380 new apartments, with 60 per cent of them in the ‘build to rent’ category and the remainder for sale, classed as affordable. There will also be retail and office space on the lowest floors.
Stratford has been keeping providers of building supplies in London busy for many years, with this being the latest of a number of major projects around the site.
As well as the Olympics and the construction of the HS1 station, connecting east London with Eurostar services, the regeneration of the area has included Westfield Stratford Shopping City, the International Quarter London with its 333 apartments, plus other retail and community developments.
However, the significance of this latest scheme stretches well beyond Stratford, as the partnership between the Department for Transport and HS1 is the first time they have worked together as landholder and freeholder to dispose of a prime plot of land, but will not be the last.
They are now working on further possible projects alongside the HS1 route between Stratford and its King’s Cross-St Pancras terminus.
Commenting on the project, LCR chief executive Peter Hawthorne remarked: “Our objective is to be ambitious in how we identify and unlock land for new homes.”
He added: “The transformation of this bus layover into a new community space is a great example of how challenging brownfield sites can be developed,” noting that without being able to leverage a public-private partnership the task of developing the land would have been “too complex”.
Land and planning director for Telford Homes Jerome Geoghegan noted that his company had already built 1,750 homes in Stratford over the last 12 years, adding: “Stratford is one of the most exciting places to be in London and we’re witnessing the benefits of effective placemaking in real-time.”
Among the advantages of the location is its outstanding connectivity, with Stratford Station hosting both local and international rail services, as well as being on the Jubilee and Central Underground lines and the Docklands Light Railway (DLR).
Another east London location in a similar situation is the Docklands area around Canary Wharf, which has Tube and DLR services as well as the imminent prospect of the Elizabeth Line, with Crossrail services set to finally commence this year.
While this date draws near, the district continues to add new residential buildings to its plethora of commercial skyscrapers. The latest will be a 56-storey tower developed by Far East Consortium, which has just gained planning permission for the building. When completed, it will provide 500 new homes.