Bouygues Development reaches financial close on £130m second phase of Hallsville Quarter, Canning TownJanuary 29th 2015
Bouygues Development, the property development company, has signed agreements with its partners for the second phase of its Hallsville Quarter project in London’s Canning Town, E16.
The project is a major part of the London Borough of Newham’s £3.7 billion Canning Town and Custom House Regeneration Programme, providing a new town centre for this emerging area of east London, linking in to the existing facilities on Barking Road.
Phase 2 will provide a new pedestrianised thoroughfare with retail and restaurant units and a hotel, as well as landmark residential towers delivering 349 new homes with a range of tenures. Additional public spaces, secure car parking for around 300 cars and cycling facilities will also be included.
The 196-bedroom hotel will be owned and operated by Accor under its ibis brand; Grainger will own and manage the 134 private rented sector homes; Mountain Capital will purchase the private residences; and One Housing will own and manage the affordable shared ownership housing. GVA has been appointed to market the retail and restaurant units that will be delivered as part of Phase 2.
The second phase will complement Phase 1 of the scheme, which is nearing completion and will comprise 179 new homes, a Morrisons food store, more than 400 car parking spaces and a 70,000 sq ft courtyard garden. Residents of both phases will have access to residents-only recreation spaces and all homes will feature consistent materials, design and maintenance, regardless of tenure.
Bouygues Development will develop the scheme and Bouygues UK is the main contractor. With financial close now reached, construction will start in the first quarter of 2015.
With a gross development value of £130m, the second phase of Hallsville Quarter will complete in 2017 and has been designed by John McAslan + Partners, Hunters, and Associated Architects.
Bouygues Development is additionally progressing detailed design proposals for extensive improvements to Terry Spinks Place, the public space under the A13 flyover that connects Hallsville Quarter to the existing town centre and the communities north of the A13.
Set to be completed over five phases, Hallsville Quarter is one of London’s largest regeneration schemes, including approximately 1,100 mixed tenure housing units, over 323,000 sq ft of leisure and retail space and over 32,000 sq ft of space for community facilities. New public spaces, pedestrian links and cyclist provision are also included, as well as 1,100 secure parking spaces.
Nicolas Guérin, Managing Director of Bouygues Development, said:
“We look forward to working with our partners and the London Borough of Newham as we start the next phase of this exciting regeneration project. Providing a large range of housing comprising private for sale, private rented and shared ownership housing, together with an ibis hotel, well-designed public spaces and a vibrant new high street, Hallsville Quarter is set to breathe new life into Canning Town, creating a focal point for the area as well as new opportunities for the local community.”
Lester Hudson, Newham Council’s deputy mayor and cabinet member for finance, regeneration and planning, said:
“This is the next step forward in our ambitious regeneration plans for Canning Town and Custom House, and the borough as a whole. This phase will play a significant part in shaping Hallsville Quarter, assisting in meeting the borough’s housing needs, as well as creating many job opportunities and public facilities. Canning Town and Custom House are changing rapidly and we look forward to residents benefiting from these developments.”
Image: CGI of Hallsville QuarterCategory: Corporate news
Tags: Bouygues Development, Bouygues Development and construction, Canning Town, Hallsville Quarter, Regeneration