Hammerson and Ballymore have submitted plans for a major mixed-use redevelopment of the 10.4-acre former Bishopsgate Goodsyard, E1, site on the border of Hackney and Tower Hamlets.
The masterplan, designed by Sir Terry Farrell, includes seven residential buildings comprising 1,500 new homes and nearly 630,000 sq ft of commercial space.
It also includes public space totalling 5.4 acres.
Work on the scheme is expected to start in late 2016.
The hybrid application includes detailed plans for four residential buildings, retail space and the refurbishment of listed buildings on the site.
It also includes an outline planning application for the office space and a further three residential buildings, the new park and open space.
The prime site surrounds Shoreditch High Street station.
It was formerly occupied by a railway terminal, which was destroyed by fire in 1964.
The new park will be elevated above the railway arches, which will be restored and converted to shops.
The scheme also includes workshop and smaller office space for independent businesses and start-ups, and the main office element will target TMT occupiers from the surrounding Tech City area.
Sir Terry Farrell said: “London has been shaped by its adventurous and innovative engineering infrastructure. Our railway stations, once relegated to the outer edges of central London as unwelcome neighbours, are playing a major role in regenerating our most recent and exciting town centres.
“London’s growth should be focused on the transformation of the post-industrial ‘suburbs’ that once inhabited the perimeter of the city centre. In this context, Bishopsgate Goodsyard will become a vibrant new neighbourhood where the creative and commercial industries can thrive.”
The scheme will preserve the listed Braithwaite Viaduct, the oldest surviving rail terminus in England, the grade II-listed Oriel and gates to Shoreditch High Street, a series of unlisted arches and boundary walls, and a row of weavers’ cottages will be restored.
Ballymore UK managing director John Mulryan said: “You don’t get a chance to open up such a large slice of London for public use very often, so we are keen to make this a flagship development. Londoners will get the chance to enjoy this important part of the capital’s heritage after years hidden from view. We want to create a great place to live, work and visit.”
Hammerson chief investment officer Peter Cole added: “This really is a unique opportunity to develop a new neighbourhood within one of London’s most popular areas. This is undoubtedly a challenging site, however this brings with it the opportunity to not only preserve the significant heritage assets on the site, but to create new homes, jobs and one of the most unique public parks in London. We have been consulting with the local community and interest groups for a number of years and we will continue to do so. We want the development to feel part of their London.”
jack.sidders@estatesgazette.com
