Canning Town Centre to get £600m investment

Some £600 million is to be invested in the Canning Town Centre scheme to regenerate the area.

People looking at flats to rent in Newham - which is just three miles from the City - may be keen to locate themselves near this six-hectare site after the announcement. Under the plans Canning Town Corner will be reconnected with Barking Road and Rathbone Market.

Some 179 residential units are to be built during phase one, as well as a Morrisons, with work due to start in the final quarter of the year - all of the work is expected to be completed by 2023. The terms of the principal development agreement have finally been agreed upon by the Newham Council and Bouygues Development, which clears the way for construction to begin.

The programme is part of the £3.7 billion being invested as part of the London borough of Newham's Canning Town and Custom House Regeneration Programme. Around 1,100 mixed tenure housing units, over 3,000 sq m of space for community facilities and more than a 30,000 sq m area for leisure and retail space will be created by the time it is finished.

Sir Robin Wales, mayor of Newham, described the project as a "game changer" for Canning Town. "It is being delivered very much for the local community and with existing residents at its heart. They will benefit from a new town centre and all the opportunities that come with that - jobs, new homes and community facilities," he added.

Clive Dutton, Newham Council's executive director for regeneration and inward investment, labelled it as a "huge achievement" to have secured such a sizable injection of capital in the current economic climate. He stated this highlights the local authority's ability to work with both the private and public sector in order to meet its aims.

Posted by Ben Carter

Published 15th March, 2012

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