Smithfield Quarter is the last real opportunity to save the Victorian heritage of the historical Smithfield Market in the City. Next month a public inquiry into its future begins.
The site is our major regeneration and conservation scheme at the western end of the market, but not including the meat market itself. Regeneration of this part of Smithfield is long overdue. Our scheme will not only save but also bring back to life the Victorian market buildings which have lain empty for decades, delivering a commercially viable development.
The sensitive nature of the site requires a solution, which is well engineered, balances conservation and development and preserves the richness of the Victorian buildings. We are not demolishing all of these Victorian buildings as the previous Thornfield scheme proposed. We are keeping 75% of the historic fabric and keeping the Annex, Red House and former toilet block in their entirety.
Our scheme has received the support of the City of London, the mayor of London, the Smithfield Market tenants’ association, English Heritage and CABE Design Council, as well as residents and businesses. These buildings can only be brought back into use through the creation of a viable and funded scheme with the right balance of conservation and development, not through a full retention scheme.
There is no credible, funded or viable alternative scheme and to pretend otherwise is entirely misleading and will condemn the buildings to further decades of decay. English Heritage agrees, stating earlier this year that, “In our view, it is unlikely that a scheme with less or no new development on the site will come forward in the foreseeable future, as this would not be financially viable”.
Despite this, Eric Pickles, secretary of state for communities and local government, called-in our planning application following approval by the City of London’s planning committee.
We cannot understand how or why the secretary of state arrived at this conclusion given the overwhelming evidence of local, regional and national policy, stakeholder and political support.
Together with our investment partner, we have already made a significant multi-million-pound investment in the project; on essential repairs, supporting the underground railway tunnels and halting further decay to the buildings. We are creating a new economically vibrant quarter of London next to the new Crossrail station at Farringdon with up to 2,000 office and construction jobs and a truly green and sustainable building.
Henderson has a strong track record in delivering viable projects that provide welcome and long-awaited regeneration, such as the redevelopment of the Bullring shopping centre in Birmingham.
Smithfield and the whole area of Farringdon is about to undergo major upheaval with the arrival of Crossrail and other associated redevelopment and Smithfield Quarter is an essential component of that wider regeneration of the area.
There is no realistic alternative to Smithfield Quarter for the foreseeable future and if our scheme does not get approved after the public inquiry in February, then these disused historic buildings will continue to decay and the site will continue to be blighted by further uncertainty.
We have a chance to really make something of these buildings and we hope that it is not too late to return them to sustainable long-term use.
