Neptune targets £165m Olympic legacy zone regeneration

Posted in News on Wednesday, 21 November 2012

Neptune targets £165m Olympic legacy zone regeneration

Neptune Group has submitted plans to develop hundreds of new homes and 11,000 sq m of commercial property in the Olympic Legacy area in East London.

Neptune Wharf has been designed by architects Stock Woolstencroft and would be based on Fish Island, west of the Olympic stadium.

Neptune says the £165m development is the largest proposed within the Olympic Legacy area outside of the Legacy Communities schemes.

The property company has submitted a planning application to the London Legacy Development Corporation for up to 800 new homes, 11,000 sq m of commercial space, a new primary school and over a hectare of new landscaped open spaces.

Neptune hopes to receive planning permission in early 2013.

Neptune Wharf would feature a new waterfront urban quarter linked to the Queen Elizabeth Park and Hackney Wick by new and refurbished pedestrian bridges.

Director of Neptune Group Patrick Heffron said: “We committed to Fish Island well ahead of the 2005 Olympic announcement, and we are delighted that after several years of detailed discussions with the various planning agencies we now have a policy platform and agreed framework under which the Neptune Wharf scheme can come forward.”

“We now expect to see many more privately driven proposals come forward in this exciting Olympic fringe area.”

Neptune bought the site in 2004. It avoided compulsory purchase orders relating to Olympic developments and since 2005 has lobbied for local regeneration.

The firm has worked with several planning authorities on regeneration of the area, including the London borough of Tower Hamlets, the London Thames Gateway Development Corporation, the Olympic Delivery Authority, the Greater London Authority and the LLDC.

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