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Shoreditch’s Bishopsgate Goodsyard to be Developed in Major Regeneration

Shoreditch’s Bishopsgate Goodsyard to be Developed in Major Regeneration
09 December 2020
 

The Mayor of London has approved Hammerson and Ballymore’s plans to transform the Bishopsgate Goodsyard site into a mixed-use urban quarter that will help drive the recovery and growth of Shoreditch and London over the next decade.

The development includes 500 homes, an elevated public park, and one of London’s largest-ever contributions of affordable workspace

The ten-acre site in the heart of Shoreditch is one of central London’s last remaining strategic brownfield regeneration sites. 

 

Hammerson’s City Quarters Concept

 

The approval represents another significant milestone in Hammerson’s City Quarters concept, which will create vibrant mixed-use neighbourhoods in key urban locations. City Quarters will primarily see Hammerson transform many of its city venues beyond pure retail into successful neighbourhoods providing homes, workspace, hotel rooms and public realm.

The revised plans proposed by the joint venture between Hammerson and Ballymore will provide 500 homes, with 50 per cent of these being affordable, as well as 1.4 million sq ft of workspace, including one of the largest single contributions of affordable workspace of any development in London.

The Mayor’s approval for the revised plans follows an extensive public consultation, with over 2,500 people in the local community engaged since 2011, as well as constructive discussions between the joint venture, the GLA, Hackney Council, Tower Hamlets Council and other key local stakeholders.

In Hackney, the affordable workspace provision effectively doubles the amount of affordable space provided in the borough since the council adopted its policy in 2015. This will be provided at a 60% discount to market rates, creating opportunities for a range of entrepreneurs, start-ups, scale-ups, SMEs and creative businesses, helping to drive Shoreditch’s growth.

The masterplan, designed by architect FaulknerBrowns, includes a high line-style elevated public park sitting on top of the restored historic railway arches that will provide a series of connected gardens, terraces and walkways, with a wide variety of biodiversity, including trees and planting.

Designed by landscape architects Spacehub, the park will be one of the largest new parks in central London. In total, the site will have over six acres of public realm, 25% larger than proposed in the original plans, first submitted in 2014, and covering over 50% of the whole site.

The mixed-use development will also provide new pedestrianised streets through the site, with a new east-west street created and the historic London Road under the arches restored and opened-up for the first time in decades.

 

OSIT

 

Car-Free Development

 

The development, which will be car-free and provide over 3,000 cycle spaces, also includes two new flexible culture and arts buildings, one in Hackney and one in Tower Hamlets, with a destination cultural building on Brick Lane and a new exhibition space located within the arches on London Road.

Upon completion, the scheme will make a significant contribution to the local area and London, supporting over 11,000 jobs and contributing around £540m to the economy each year, as measured in Gross Value Add (GVA).

Robin Dobson, Director of UK Development & Project Management, Hammerson, said: “The Mayor’s decision is a huge vote of confidence in central London after a challenging year. Our designs make the very most of a highly constrained site and will provide a huge range of benefits. These include one of the largest ever provisions of affordable workspace in London, which will help the local area and London as a whole continue to thrive long into the future. 

“We listened carefully to feedback on our original proposal and after extensive consultation with Hackney and Tower Hamlets councils, local people and businesses and the Greater London Authority, our proposal now provides for a balanced, mixed-use scheme that will create a new community in the heart of Shoreditch.”

Picture: an artist’s impression of the renovation. Image credit: Hammerson 

Article written by Ella Tansley | Published 09 December 2020

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