London River Park

London Mayor Boris Johnson announced today that up to £60 million funding had been pledged to build a spectacular kilometre long floating river walk along the north bank of the River Thames in time for summer 2012.

The ‘London River Park’ design, by global architects and planners Gensler, won the Mayor’s Award for ‘Planning Excellence’ at the 2010 London Planning Awards arousing much interest amongst potential backers. Now asset managers Venus Group of Singapore has agreed to finance the project and detailed plans will now be submitted to the City of London Corporation and other relevant authorities for consideration.

A Memorandum of Agreement has been signed between the company and the London Mayor in a deal that will see 30 per cent of net revenues raised through the commercial operation of the River Park shared with the Mayor for the public benefit.

Subject to planning and other necessary approvals the ‘London River Park’ will provide a continuous twelve metre wide floating pontoon to run parallel to the existing disjointed pathways and streets that currently connect this important stretch of river frontage bordering the City of London between Blackfriars Bridge and just beyond The Customs House.

Along its route it is intended that eight themed pavilions will be constructed to showcase London and for hosting events beside the Thames. The developer is currently working with Gensler, major construction and consultancy firm Mace, and its other project partners on finalising the concept design to ensure that this unique tourist attraction will deliver a lasting legacy for London after the 2012 Games.

The Mayor of London, Boris Johnson, said:

"The sheer beauty and design brilliance of this structure will provide yet another amazing and unique attraction for the capital.

"We will proceed sensitively working closely with our partners, particularly in the City, to ensure that one of the most famous and cherished waterfronts in the world is enhanced for the benefit of our great capital."

John Naylor, Head of Property and Construction, Venus Group Singapore, said:

"This will be an exciting addition for the summer of 2012 and a new opportunity for Londoners to relax by the Thames in the heart of the City."

Rt Hon Lord Smith of Finsbury, Chairman, Environment Agency, said:

"This is a really exciting initiative for London and the Environment Agency will do everything possible to make it happen."

Baroness Jo Valentine, Chief Executive of independent business group London First, said:

"Having won the Mayor’s overall award at the London Planning Awards, the question was always ‘Could the innovative River Park concept become a reality?’ Secured funding is an important step towards that realisation. There’s still work to do, including planning consents, site surveys and construction, but the River Park has the potential to be an eye-catching and iconic new feature in the heart of London."

Chris Johnson, Managing Principal, Gensler, said:

"Gensler are delighted that the project has reached this important milestone, and we look forward to working with Venus Group and all the London stakeholders over the coming months to turn this exciting concept into reality.

"To be part of the revitalisation of one of London’s greatest assets – The Thames - in the creation of this new public amenity is a great honour and the overwhelming support to include the Thames as a key focus for next year’s national celebrations only enhances the capitals reputation for originality, innovation and creative thinking."

A spokesperson for the City of London Corporation said:

"We are looking forward to receiving this fascinating proposal and giving it our detailed consideration."

Helen Alexander, Chairman of the Port of London Authority, said:

"This is a very interesting proposal in an important part of the River and we look forward to considering the details of the scheme."

Notes to editors

Gensler is a global architecture, design, planning, and strategic consulting firm, with more than 2400 professionals networked across 35 offices on five continents. Gensler’s London office has been in the city for nearly quarter of a century and is deeply rooted in the City’s heritage.

Consistently ranked by U.S, European and international industry surveys as the leading architecture and interior design firm, Gensler leverages its deep resources and diverse expertise to develop design solutions for industries across the globe.

Since 1965, Gensler has collaborated with clients to create environments that enhance organisational performance, achieve measurable business goals, enrich people and communities, and enhance everyday experiences.