Ballymore and Hammerson have set a 2024 start date for the main construction work on plans to turn the Bishopsgate Goodsyard on London’s city outskirts into a close to US 1.2bn new urban quarter. The JV has just signed the Section 106 agreement, allowing the 1.7 million square foot mixed-use regeneration scheme in Shoreditch to begin.
The Bishopsgate Goodsyard Regeneration Joint Venture will now begin comprehensive design and prepare to begin site enabling works. The developers will collaborate with Network Rail to establish delivery and phasing strategy, with the first phase of construction set to begin in two years.
“Bishopsgate Goodsyard is one of the most intriguing redevelopment locations in London today,” said John Mulryan, group managing director of Ballymore. “We purchased this dilapidated site about 20 years ago, which had been inactive since 1964.”
“Over the course of several years, we have built strong relationships with local residents, companies and organizations, the GLA, and transportation agencies to ensure that the design reflects their future objectives for the neighborhood. With a combination of new homes, workplaces, shops, cafes, restaurants, cultural buildings, new streets, and one of central London’s largest new parks, this place is planned with wellbeing in mind, where people want to live, work, and play,” explained Mulryan.
Bishopsgate Goodsyard project features and amenities
The 10-acre mixed-use development on the outskirts of the city comprises 500 residences, half of which will now be affordable, as well as 1.4 million square feet of office.
FaulknerBrowns developed the project, which incorporates a high line-style elevated public park perched on top of refurbished historic railway arches. In total, the site will feature over six acres of public realm, which is 25% greater than what was intended in the original designs, which were first filed in 2014, and would cover more than 50% of the entire site.
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The mixed-use development will also include new pedestrianized roadways throughout the site, including a new east-west street and the restoration and reopening of the historic London Road under the arches for the first time in decades. The car-free development also includes two new culture and arts buildings, one in Hackney and one in Tower Hamlets, as well as a destination cultural facility on Brick Lane and new exhibition space within the London Road arches.
