Large Scale, Mixed Use, Development and Regeneration – Current Project
The regeneration of Chrisp Street Market, Poplar, E14
Client: Poplar HARCA.
Stakeholders: Telford Homes Plc, London Borough of Tower Hamlets, multiple traders such as Coop, Iceland, Boots, The Post Office, and numerous independent businesses and traders.
Scale: 285 homes of post war Festival of Britain social housing and subsequently in 1960’s and 1970’s tower blocks on an 8 acre site. Retail and ancillary commercial space of circa 200,000 sq ft and an existing Council run covered street market at ground.
What we envision:
Full occupancy in an improving market with manageable increases in rental values to enhance income returns ahead of the delivery of regeneration proposals.
What we have revealed so far:
How best to grow rental values and income ahead of regeneration.
The business and investment cases for the commercial strategy and associated investment.
Business by business proposals to come on the regeneration journey.
What we have delivered so far:
Support of most existing businesses and traders to the planning application.
Agreements including heads of terms with most of the existing businesses to relocate or enable improvements to their existing premises.
Ways to manage the changes to the parking and servicing arrangements through the planning process and for individual occupiers.
Increased revenue through new lettings, improved rental values and reduction in arrears.
Investment and Benefits
Estimated value on completion £300m+
Asset management pre-construction
• Full independent occupier engagement
• Management of lease renewals and rent reviews in line with site assembly
• New and short term lettings ahead of redevelopment
• Consistent support to the managing agents