French construction giant Bouygues and troubled Manchester developer Modus have been selected to bring forwardthe regeneration of Canning Town in east London.
The pair, with affordable housing developer One Housing,were chosen to develop Area 7of the £3.7bn project ahead of theconsortium led by Sir Stuart Lipton and his son Elliot.
Area 7 comprises 2,333 houses, 337,000 sq ft of shops, 249,240 sq ft of offices and 80,730 sq ft of leisure in the centre of Canning Town.
Newham council would not comment on the chosen party, but said a decision would be made on 25 June. “We are committed to securing the best deal that will transform this area for the better,” it added.
It is unclear whether Bouygueswill progress the development with Modus, as a number of the Manchester-based group’s subsidiaries and holding companies are currentlyin the hands of administrators.
Area 7 is the largest element of the 15-year Canning Town andCustom House regeneration project. The Erik van Egeraat-designed masterplan includes a total of 650,000 sq ft of shops and 10,000 homes.
Bouygues had foughthard to win the Canning Town project as it is keen to use it as a platform to expandits development activity in the UK.
Bouygues, the E-Central Lipton consortium and Countryside Propertieshad alreadybeen selected to handlethe overall east Londonproject.
