The creation of the £1.7 billion London’s next business district that will create thousands of jobs has today moved a significant step closer.
The Greater London Authority has given the go-ahead in the process towards full planning approval to ABP for the 4.7 million sq ft development at Royal Albert Dock.
This follows the decision by Newham Council last year to grant planning permission subject to the response from the GLA.
ABP is expected to be able to begin work on the 35 acre site later this year and build what is being described as London’s next financial business district following the City of London and Canary Wharf. The first phase will be completed in 2018.
UK planning regulations are complex and it is understood it took months of negotiations between ABP and the planning authorities involving London Borough of Newham, Transport for London, and the Greater London Authority before agreement was finally reached.
The final stage is for UK Secretary of State, Eric Pickles, who is responsible for planning within the UK Central Government, to formally allow ABP to progress and Newham have already sent the documents to his office for ratification.
ABP’s Chief Operating Officer and Executive Director, John Miu, said: “Obviously we are delighted by how the whole planning process has progressed and we are looking forward to getting underway and completing our first phase in just 3 years.
“There is tremendous interest from across Asia from companies wanting to locate in the Royal Albert Dock business district development and we look forward to making further exciting announcements in the months ahead.”
Sir Robin Wales, Mayor of Newham, said: “This decision means that we are a step closer to realising the vision of Newham as an international location for business.
“The ABP development will bring further investment in to east London, including thousands of jobs and opportunities for Newham residents within high-tech businesses as well as construction industries from at home and abroad.
“ABP is a significant part of the Royal Docks transformation which will see the revival of the waterfront and reinstate the docks as the heart of London’s industry.”