The Royal Albert Dock development is the centrepiece of a buzzing new business district that will bring thousands of jobs and billions of pounds to the local economy, which suffered and lay empty for years after shipping declined.
The £1.7 billion business park is being built at Royal Albert Dock, turning 35 acres of waterfront into a lively place to work and enjoy. The project will create more than 20,000 new jobs and bring £6 billion to the local economy – part of a wider pledge by Sadiq Khan to renew the docklands, bringing jobs, homes and investment back to the waterways.
Around 650,000 sq ft of space will open in early 2019, with rental and operating costs that are 70% less than the West End. A centre of technology and innovation, the site will serve small and large companies from knowledge- driven industries such as media, fashion and fintech.
Close by is the University of East London’s Dockland Campus, and across Newham several other universities and educational institutions have established campuses, so employers can access the talent they need to grow and thrive.
A five-year rejuvenation project has earmarked £314 million in public investment to improve transport infrastructure and stimulate economic development along east London’s waterways.
Among the enhancements will be the arrival of the high-speed Elizabeth line at Custom House station, which will significantly improve transport links into central London.
This, coupled with London City Airport’s planned redevelopment, will see Royal Albert Dock become one of the capital’s best-connected locations. Thousands of visitors are already lured to the area each year for its exhibitions, events, water sports, bars, restaurants and luscious open spaces.