Retail giant鈥檚 property arm preparing planning application
IKEA鈥檚 property arm has unveiled plans for a mammoth 10.5ha mixed-use scheme south of the London Olympic Park in Stratford.
The 2,000,000ft2 development 鈥� dubbed Strand East 鈥� is being proposed by LandProp, part of the Inter IKEA Group.
Architect Arc-ML has been enlisted to design the scheme, which includes 1,200 new homes, offices, community facilities, open public spaces, restaurant and a hotel.
LandProp is currently preparing a planning application, due to be submitted to the London Thames Gateway Development Corporation in early 2012.
Harald M眉ller, managing director of LandProp said: 鈥淲e are hugely excited to be bringing forward these plans, we see Strand East as a place for families which contributes to the regeneration of Stratford and takes its place alongside the many neighbourhoods of London.
鈥淭he 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.鈥�
Mayor of London Boris Johnson said: 鈥淭his is yet another great example of the 2012 legacy rippling out of the Olympic Park and across east London.
鈥淚t will help create a vibrant quarter within the brand new district we are creating in London, providing much needed family-sized housing and new jobs.
鈥淭his huge investment shows the extraordinary confidence that exists for both this part of the capital and the future of the whole of London鈥檚 economy.鈥�
Mayor of Newham, Sir Robin Wales said: 鈥淚nter IKEA鈥檚 investment in Newham is further confirmation of the borough鈥檚 growing reputation as an international business destination.
鈥淚 am excited by the ambitious vision for the development of Strand East that clearly shows that there is nowhere else in the UK undergoing transformation on the scale of Newham.
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