Case studies - business accommodation
Project: Waterfront Studios
GLE Property Developments often focus their activity on the more deprived areas of London. When the opportunity to work with the London borough of Newham at the Royal Victoria Docks presented itself, GLE were happy to get involved.
The project involved the refurbishment of existing road arches and the building of a new business centre together with café and reception extensions overlooking Western Beach on the Royal Docks. The letting of the business centre is targeted at small businesses. Twenty five incubator units are operated in the scheme by the East London Small Business Centre.
Newham initially offered the site to GLE Property Developments when some of the arches were let, but in a derelict condition. The Council lacked the funds to refurbish and develop out the new space on its own without outside investment.
From this initial introduction GLE coordinated the design, fund raising, refurbishment and the developing of the scheme. Contracts were agreed with Newham Council and the London Development Agency as joint landowners, Newham as the Highway Authority responsible for the road arch structure, Royal Docks Management Authority Limited as land owners of the waterfront area, the Government Office for London (GOL) as the ERDF grant funding agency and the Canning Town Partnership in respect of grant funding of environmental improvements in and around the development.
GLE’s initial appraisal of the scheme, indicated that grant support was necessary in order to bring in the necessary investment and get the scheme off the ground. As a result GOL have provided in excess of £1m grant towards the necessary works in addition to GLE’s envisaged investment of circa £5m.
FSP Architects, the project architects appointed by GLE have worked previously on similar schemes such as the refurbishment of road arches at The Westway in Shepherds Bush and The Kingsland Viaduct project in Dalston.
GLE has shared a longstanding working relationship with Newham Council, the major landowner of the site managing on their behalf a property joint venture with the Council’s Pension Fund – The East London Property Fund. GLE have also undertaken previous developments in Newham including the recently completed warehouse scheme at Alpine Way, Beckton and the industrial unit development at Butchers Road, Canning Town supported by English Partnerships.
The development was completed in Summer 2003. For more information visit www.waterfrontstudios.biz