MIPIM 2012: Bouygues and Newham agree £600m Canning Town scheme
Bouygues Development and the London Borough of Newham have agreed development terms the £600m Canning Town Centre scheme, it announced today at MIPIM.
The Town Centre scheme was developed by Bouygues Development and its consortium partner One Housing Group and forms part of the London Borough of Newham’s £3.7bn Canning Town and Custom House Regeneration Programme.
The six hectare site will include approximately 1,100 mixed tenure housing units, over 322,917 sq ft of leisure and retail space and over 32,000 sq ft of space for community facilities. New pedestrian links and cyclist provision are also included, as well as 1,100 secure parking spaces.
Phase 1 of the scheme, which will be on site in the fourth quarter of 2012, will comprise 179 residential units of private and affordable housing, and a Morrisons supermarket of over 75,347 sq ft.
Speaking of the development agreement, Stephane Slama-Royer, managing director of Bouygues Development, said: “To be funding such a massive regeneration scheme at cost is a fantastic achievement for Bouygues Development and we are very proud to be involved in a project that will bring positive change to the communities who live and work in Canning Town”.
Sir Robin Wales, Mayor of London Borough of Newham said: “This scheme is the real game-changer for Canning Town, and illustrates the scale of our ambition when it comes to delivering regeneration in Newham. More than that though, it is being delivered very much for the local community and with existing residents at its heart.”