Property developer Hammerson will submit a planning application within the next few weeks for the £800 million Goodsyard mixed use development in Shoreditch on the City fringes.
The news came in Hammerson’s annual results which are released today, showing a doubling of pre tax profits to £341.2 million for the year to 31 December 2013. Start on site on the project which is in 50:50 joint venture with Ballymore Properties is likely to be in 2016.
The 10 acre site is expected to deliver a 260,000 sq m development including 19,000 sq m of retail space, 60,000 sq m of offices, and over 1,400 homes. As part of a regeneration plan for the area the Goodsyard development will also provide public spaces including a new park.
Hammerson Chief Executive David Atkins said that Hammerson would in future be exclusively a retail developer, having sold all of its offices portfolio, mostly to Brookfield. Its extensive portfolio of retail led UK developments includes the giant Croydon and Brent Cross developments for which planning approvals have recently been received.
The development’s masterplan envisages the Goodsyard as creating a new neighbourhood. A design team was appointed for the project, one of the largest regeneration developments in London, in May last year.
Pictured: A view of the old Bishopsgate Goods Yard, facing south. Photo: Soundings
Farrell’s is undertaking the masterplanning with PLP Architecture designing the first stage of the residential provision and FaulknerBrowne Architects designing the retail elements of the scheme, incorporating the listed Braithwaite arches.
Others appointed to the professional team include DP9, WSP, Gardiner & Theobald, Hoare Lea, Chris Dyson Architects, Peter Stewart Consultancy, Turner & Townsend, and Second London Wall.