Land released for Canning Town gateway site

    Newham council has transferred the land to development consortium English Cities Fund for the first phase of the £180m Rathbone Market scheme, a gateway site for the Canning Town and Custom House regeneration project. English Cities Fund – a joint venture between Muse Developments, the Homes and Communities Agency, and Legal and General – has appointed Sisk as main contractor. Construction will begin at the end of the month. to provide 271 new homes in phase one as well as new shops and cafes, with a revitalised market and community facilities to follow in later phases. Phase one is due to be completed by late summer 2012. The scheme was thought to be under threat following the withdrawal of the original Kickstart funding in July. However the Homes and Communities Agency provided the £13m of gap funding to ensure the project could go ahead. Duncan Cumberland, development director at English Cities Fund, said: “While many developments in other parts of the country have been stalled due to government cutbacks, this major regeneration project is right on track.” He continued: “With the world’s eyes on London over the next couple of years, Canning Town will be well placed to capitalise on this interest. We’re looking forward to the next two years of development.”   paul.norman@estatesgazette.com   To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more