Mayer Brown advises on £1.5 billion regeneration of London’s Silvertown Quays
11 June 2013
London - Leading global law firm Mayer Brown has advised the Silvertown Partnership, a consortium between developer Chelsfield Properties and regeneration company First Base, on an agreement to undertake a £1.5 billion regeneration of Silvertown Quays in the docklands.
The plans for the 50-acre site, which is currently owned by the Greater London Authority, is expected to create more than 9,000 new jobs and boost the economy by £6.5 billion once complete.
It will comprise of brand pavilions where companies can display their products as well as 1,500 homes, retail, cafes, galleries and leisure facilities.
An outline planning application, drawn up by Arup, will go to Newham Council in the next year with the aim of creating a new waterside destination that will be home to innovative design, high technology and green enterprise where people can go to research, learn and discover new products and ideas.
Elliot Lipton, The Silvertown Partnership, said: “The Silvertown will create a new waterside destination for London where people can interact with a range of brands, alongside restaurants, galleries, shops and homes all set in a beautifully landscaped and attractive environment. As a centre for innovation, The Silvertown will also allow global brands to showcase their products and be a thriving place for people to live, work and visit.”
Martin Wright, Head of European Real Estate at Mayer Brown, commented: "Silvertown Quays will be a dynamic, new, innovative destination in London allowing global brands to present themselves to all. It will also bring thousands of new homes and jobs to East London, so we’re naturally delighted to have assisted The Silvertown Partnership in beginning to realise this dream."
The Mayer Brown team was led by Real Estate partner Martin Wright, assisted by Environment partner Michael Hutchinson and Real Estate senior associate Rose Meller. Martin Wright also acted for the original developer, Silvertown Quays Limited, on its development plans which included a world-class aquarium.