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NEWS > A vital piece in east London regeneration
Published: Tuesday, 06 Jul, 2010

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The prospects for comprehensive regeneration of the area outlying the Olympic Park drew a step closer on 01 July 2010 with the first land purchase by the London Thames Gateway Development Corporation, LTGDC. The LTGDC GBP6 million acquisition of the Leycol Printers site at Bromley by Bow comes less than a month after its planning committee consented an application from Tesco’s for a new District Centre comprising residential, public space, community facilities and a school. In what LTGDC heads are a calling a ‘vital jigsaw piece’ in the areas regeneration, the acquisition provides an important link between Tesco’s District Centre and plans proposed by Southern and East Thames housing groups to develop out the area to the north for a major mixed use residential scheme.

At the heart of the Lower Lea Valley, Bromley by Bow is an area made up of declining traditional industries. South of the Olympic Park, the area lies between Three Mills, – to be transferred to the Olympic Park legacy Company (OPLC) from the London Development Agency at the end of the Games - the attractive waterways that make up the Bow Back River and London’s largest film studio.

With no one land owner covering the area only intervention by LTGDC could ensure its comprehensive regeneration. An innovative agreement was signed with Tesco this summer and involving LTGDC using compulsory purchase powers to assemble land to the south to support the Tesco development. In exchange the retailer would meet the land use and design brief policy for their development and cover the costs of land assembly. The first phase of the scheme is due to commence and will complete in time for the London 2012 Olympic Games.

LTGDC’s 0.34 ha acquisition acts as a bridge between the new District Centre development in the south and the RSL scheme to the north and - once development begins -will ensure access across the area for the first time. Crucially the LTGDC purchase will ensure a coherent relationship between the two developments which realises the full potential of the area.
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