UPDATE: Marriott International has agreed to operate the 350-bedroom hotel at the heart of LandProp’s Strand East project in Stratford, E15.
Plans for the 1.9m sq ft regeneration project just south of the Olympic Park were revealed by LandProp, part of the Inter IKEA Group, tonight.
The 26-acre Strand East scheme, will includes 1,200 new homes, 480,000 sq ft of offices, shops, cafes and restaurants, and the hotel.
Plans for the project have been drawn up following LandProp’s completion of the purchase of 9.3-acres from the Olympic Park Legacy Company, enabling it to bring the site between Stratford High Street, the Three Mills Wall River and the River Lea waterways under single ownership.
Following public consultation, a planning application is due to be submitted to the London Thames Gateway Development Corporation in early 2012.
The first phase of development already has planning permission, with Dane’s Yard to be bought forward as the location for a new 40m high illuminated sculpture set within a landscaped public square alongside a Graysons restaurant.
Communities minister Bob Neill told the audience at the launch tonight: “This is a hugely significant development for east London and the Olympic legacy.
“It is a demonstration both of investor confidence in the area’s future in a difficult market, and shows what can be achieved by close cooperation between the public and private sectors.”
Inter IKEA business development manager and LandProp managing director Harald Müller said: “The completion of the land sale agreement with the OPLC allows us to turn this vision into reality and we will now be engaging in public consultation as we develop the plans further.
“The launch of Strand East today marks the first major investment for LandProp into the UK and we are continuing to look for other opportunities within London and the UK.”
Mayor of London Boris Johnson said: “This is yet another great example of the 2012 legacy rippling out of the Olympic Park and across east London.”
Read more on the Olympics blog >>
Nick.whitten@estatesgazette.com
