Chelsfield 'pavilion' plans win race to transform Royal Docks

18 March 2012

A historic part of east London which has lain derelict for decades is set to regain its former glory and become a major economic hub thanks to a £1.2 billion transformation, creating over 9,000 jobs, the Mayor of London Boris Johnson announced today (March 16th)

Thanks to the Mayor's continued investment in infrastructure and transport, including Crossrail and the tube upgrade, the Royal Docks is fast becoming a world class destination to live, work and visit with the Siemens Sustainability Centre, the new international Convention Centre, ExCel Exhibition Centre and the University of East London with 18,000 students as well as London's new iconic cable car - the Emirates Airline - already in the area.

The announcement today that Chelsfield has been choose as the preferred developer for the 50 acre Silvertown Quays site is also a major boost for London’s new Enterprise Zone and comes as the Mayor highlighted his plans to create 200,000 new jobs over the next four years.

Chelsfield plan to create a new district on the site containing a unique mixed use experience with a space for top brands to showcase the future of their products in their own pavilions. The development will create about 9,500 permanent jobs, once completed as well as providing 228,570 square meters of commercial and retail space and 126,440 metres of residential homes and is estimated to create £3bn of economic benefit for the capital.

The Royal docks was the focus of the Mayor's inward investment pitch to the world's property developers MIPIM last year and he has been delighted by the high level of interest from world class companies in the site. The development of the Siemen's Sustainability Centre 'The Crystal' followed a similar pitch at the World Economic Forum in Davos.

Mayor of London, Boris Johnson, said: “Despite one of the harshest economic climates in decades an urban renaissance is underway in east London and I have no doubt that Silvertown Quays will become a business destination of worldwide appeal. The Royal Docks has played a crucial part in the story of London's success and we are delighted to have this innovative proposal that will help return it to its former glory. The ambitious vision set out in the plans perfectly complements a wider regeneration effort that is transforming east London, creating jobs and attracting investment from the Olympic Park right down to the Thames waterfront. I would like to thank all the bidders for submitting what were thoughtful and imaginative proposals."

Robert Burrow, CEO Chelsfield, said: ‘Chelsfield with our partners Imagination Europe and First Base are delighted to be chosen as preferred developer for The Silvertown. Chelsfield has for many years valued East London as a growth area. We originated Stratford City, which is now a thriving successful mixed used centre. We believe The Silvertown development will be equally successful as it will create a new London destination for technology, medical and brand companies. There will be a mixture of sales, education, research and innovation centres which will be surrounded by housing and other uses to make The Silvertown another major East London mixed use project ’

The Mayor of Newham Sir Robin Wales said: "The Royal Docks is ripe for investment and today’s announcement shows that we’re serious about making the area a business powerhouse. Newham offers an investment opportunity on a scale unmatched anywhere in Europe. Two thirds of London 2012 will take place in Newham and the eyes of the world will be on us, helping accelerate the change. Over the next two decades more jobs will be created in our borough than anywhere else in London."

 

The selection of as the preferred bidder follows a procurement process undertaken by the London Development Agency that started in July 2011.

 

In the final phase, the bids were judged against criteria that included the scheme’s vision and content and their ability to deliver the project at pace.

Notes to editors

  • The Mayor of London and Newham Council successfully negotiated an Enterprise Zone for the Royal Docks which will offer incentives to help maximise inward investment into the Royal Docks.
  • The LDA is also marketing its Royal Albert Dock site and a final shortlist is due to be announced in the next few weeks.
  • The formal procurement process for a developer for Silvertown Quays began with a Pre-Qualification Questionnaire, which was published in the Official Journal of the European Union (OJEU) in July 2011.
  • The London Development Agency entered into a competitive dialogue with three shortlisted development consortia in October 2011: Chelsfield, First Base and Imagination Europe DV4 Limited (advised by Delancey Real Estate Asset Management Limited) (Delancey); and St George Central London Limited
  • The LDA’s land assets and its land and development team are due to transfer to the GLA on 31 March 2012.

A final contract is expected to be concluded within a few months. The Royal Docks Vision was launched by the Mayor of London and Mayor of Newham