EMERGING LONDON - Cushman & Wakefield
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
EMERGING
LONDON
2018
INTRODUCTION
Wembley Park p.36
CONTENTS
Welcome...................................................................... 03
Emerging London - A Definition........................ 06
Keynote
London: Driving Change........................................ 08
C&W Market View......................................................10
Spotlight on:
Canada Water.............................................................14
Barking.......................................................................... 20
Deptford....................................................................... 26
Peckham........................................................................28
Croydon........................................................................ 30
Brixton............................................................................32
Ealing............................................................................. 34
Wembley ..................................................................... 36
Battersea Power Station & Nine Elms.............. 42
Battersea Power Station p.42 Canada Water p.14 Brent Cross South.................................................... 48
Emerging London - Dashboards
Methodology.............................................................. 54
Locations by A-Z...................................................... 55
CUSHMAN & WAKEFIELD | EMERGING LONDON
Locations by ranking............................................... 64
International Spotlights......................................... 68
Contacts....................................................................... 70
Brixton p.32
5
EMERGING LONDON – A DEFINITION
EMERGING LONDON –
A DEFINITION
Change is in London’s DNA. The city evolves on Our experience of Greater London is that while
an almost daily basis. But just like the Thames, one of the world’s top cities is teeming with
the constituent parts ebb and flow at different exciting property development opportunities,
rates, in response to a plethora of drivers, particularly for retail and leisure uses, these are
including economic flux, immigration, social not always in plain view. Dictionary definitions
advancement and technological development. of the word ‘emerge’ include ‘to come into view’
and ‘to become apparent’. So the key purpose
This continual process of change within of Emerging London is to highlight which parts
geographically-defined neighbourhoods creates of the capital currently offer the most interesting
opportunities for individuals, communities and (and financially rewarding) prospects.
commercial organisations. At any point in time,
any particular London location defined by its This report isn’t an academic exercise. Rather it
own set of infrastructural, environmental, cultural is designed to have real practical value for you,
and socio-economic influences, will be on its own the reader, whether you are an occupier,
timeline. And, with each step along that timeline, developer or investor. We recognise that your
new opportunities emerge. organisation’s definition of an opportunity will
be shaped by its attitude to risk. We’ve therefore
Emerging London pinpoints the stage at grouped the 104 parts of the capital ranked in
which 104 locations are along their own, this report into five categories – from Untapped
unique journeys, which in turn indicates what to Truly Established (see p.54) – to give a broad
kind of opportunities might present themselves, indication of how frontier-pushing development
both immediately and in the near future. We in any particular area is likely to be.
have identified five general states of evolution:
Of course we can’t pinpoint to the street lamp
- Truly Established exactly which parts of London present the best
- Maturing opportunities for your own organisation. But
- Flourishing we believe we can get you very close. Emerging
- Up & Coming London notes that wherever you choose to look,
- Untapped two key factors define the areas most likely to
see successful development. Firstly, they will be
Key to taking advantage of these is an either already well connected or have substantial
understanding that possibilities are linked transport infrastructure investment in the
to a location’s individual characteristics, pipeline. And, secondly, they will welcome end
rather than its notional timeline position. projects, whether large or small, which attempt
It is quite conceivable that a Truly Established to integrate into that part of London’s existing
area can hold as many opportunities as urban fabric and recognise a sense of place,
CUSHMAN & WAKEFIELD | EMERGING LONDON
an Untapped one. rather than stand in complete isolation.
Importantly, Emerging London looks at the
capital holistically, noting that rather than
competing with each other, individual parts
of the city are inexorably interconnected with
their neighbours. The benefits of development
in one area can be felt much further afield.
Of course, not every location has the potential
to become commercially established, nor,
we would argue, should it aspire to be.
But recognising the trajectory of a particular JOHN PERCY
area can be vital for appreciating the likely HEAD OF DEVELOPMENT
effect on its peers – and vice versa. AND PLACE
7
6
KEYNOTE | LONDON: DRIVING CHANGE
LONDON: WORKSPACE
As London’s population expands
at most decelerate the pace of major
urban regeneration projects. Much
DRIVING
its workforce will become much trickier to predict is the impact of
more widely distributed, as previously Brexit, but so far, no major studies
solely residential areas gain increasing have suggested a significant negative
amounts of workspace. Large new impact on the city as a whole.
CHANGE
developments such as Canada
Water and Battersea Power Station TRANSPORT
(see pages 14 and 42) are creating Travel flow through London will
major new office hubs. The type change significantly as a result of
of workspace that emerges in Thameslink improvements in 2018
these locations is likely to have and the full opening of Crossrail
a significant bearing on local at the end of 2019, together with
retail and leisure provision. increasing modal shift to bicycle INTANGIBLES
and pedestrian transport. New retail Part of what makes London special is
RISE OF INDIE RETAIL and leisure concepts at transport a layer of intangibles that transforms
Londoners, most notably the younger hubs and along new travel routes it from being merely a place to a living
half of the capital’s demographic, are emerging. entity. The sense of optimism, for
are clamouring for a more experiential example, that prevails across the
retail and leisure offer, based around PLANNING capital, from a suburban East London
independent operators offering The Mayor of London’s latest London housing estate to the bright lights of
authenticity, provenance and Plan, currently still a draft, is firmly the West End, can’t necessarily be
experience. These demands are based around growth; including a detected in a building or Tube train.
likely to create opportunities and city-wide annual target of 65,000 But it can definitely be felt in the
challenges in equal measure. new homes. A willingness to accept thousands of thronging shops, bars
London’s status as a leading world significantly on where new housing densification of existing areas, a major and restaurants which permeate the
city is undiminished, despite the and workspace development occurs. At a glance – departure from previous London capital. Future retail and leisure
uncertainty of recent years. Successive planning policy, is likely to have a development which acknowledges
independent studies, such as the HOUSING KEY TRENDS profound effect on many parts of and can respond to the essence
Global City Power Index, continue to As politicians of all hues scramble Greater London, and create untold of these intangibles is most likely
place London comfortably in the top to increase the supply of housing ›› London will remain dominant possibilities for expanded places. to succeed.
10. While past performance does not within the capital, London’s as a leading world city
guarantee future positioning, it is clear housing stock is set to rocket.
that London is unlikely to relinquish To accommodate the sheer volume ›› Population figures are expected
its title as a key global powerhouse of new homes, whole new districts to increase, despite macro-
in the near future. like Wembley Park (see page 36) economic uncertainty TECH
The relative assuredness of London’s
are appearing. A new urban ecosystem
based on true mixed-use principles ›› New homes will bring with
TRENDS
global position transfers down to is evolving, which presents exciting them new spend and retail/
a local level to have a positive, opportunities for retail and leisure leisure opportunities… A London skyline buzzing with robot While the capital’s IT connections are
confidence-boosting effect on operators. drones making parcel deliveries is as generally up to scratch, one area which
CUSHMAN & WAKEFIELD EMERGING LONDON
each of the capital’s 32 boroughs, plus ›› … which will be coupled RETAILER PREFERENCES unlikely as one filled with airborne will need close attention in the coming
the City of London. Key factors which with greater provision London’s status as a leading world jet-propelled people carriers, reckon years is power supply. Ensuring that
will affect future development and of workspace outside city continues to exert a magnetic futurologists. Yet tech developments the city’s lights stay on as whole new
progression in all 33 areas are: central London pull on a wide variety of businesses. are slowly but surely having an effect town centres like Brent Cross South
Those who are focused on the capital’s on the capital – automatically-driven (see page 48) are connected up to a
POPULATION ›› Densification of existing indigenous rather than tourist tubes have been running under central historic supply grid will require a high
The number of people drawn to ... it is clear that areas will create exciting customer base are already showing London for years and driverless road degree of tech dexterity. We believe
London shows no sign of abating. possibilities for the creation a greater willingness to disperse pods are currently being trialled in that the parts of London which put
Consensual forecasting suggests London is unlikely of new retail/leisure offers across a wider geographic area. Greenwich and at Heathrow Airport. themselves at the frontier of IT
annual population growth of between Other innovative solutions, from advances are also those most likely
70,000 and 80,000 people until 2030. to relinquish its title ›› Recognising the intangibles MACRO-ECONOMIC FACTORS kinetic paving stones which use footfall to present interesting real estate-led
From a retail perspective, that will which underpin London’s During the last global downturn, to power street lights and hydrogen- opportunities.
mean more potential shoppers; as a global powerhouse magnetism will be key for London largely held on to its position powered generators for large buildings,
though how they will be distributed future retail/leisure operations relative to other cities, so a future are well advanced.
across the capital will depend in the near future. straight economic downturn would
9
8
KEYNOTE | C&W MARKET VIEW
And you’ve recently started advising Could that be to the detriment How does it feel to be working on
on the next phase of development of of locations north of the river? some of London’s most significant
C&W MARKET VIEW: Canary Wharf. Are there any
similarities with central London
locations?
Not at all. Schemes like Brent
Cross South (see pages 50-53)
and Wembley Park (see pages 36-41)
developments?
It is simply a privilege. Without
wishing to sound like a candidate
Q&A WITH RICHARD HOWARD Yes, the transport links will be superb
once Crossrail is operational [late
2018], while the buildings (architects
are sure to attract a new generation of
Londoners. They will supply excellent
environments with superb transport
on The Apprentice, I am massively
passionate about my job and cannot
quite believe how lucky I am. Working
AND RICHARD PICKERING include Pilbrow and AHMM) will
demonstrate a combination of
excellence and humanity that
links. Importantly, they will address
the issue of providing workspace and
affordable living space in the same
together with amazing people on
developments which are redrawing
the map of London is what really
will surprise everybody. location. We shouldn’t underestimate sets this job apart. Where else could
the potential draw this will have. I be holding the King’s Cross falcon
You mention architects, but what on my hand one day, and zooming
London is undergoing exciting changes. Two Cushman & Wakefield does London’s property industry, Does this mean that across London above the capital in a helicopter
senior executives consider the key factors influencing the capital’s which is ultimately responsible for increasing numbers of people will be the next? I love it.
much of the city’s built environment, beneficial to the retail/leisure mix?
future and the practical implications of the city’s growth on urban excel at and what could it do better? Absolutely. Outside the property
real estate development. Well, a massive and very wasteful world people use ground floor
anomaly of our industry is that we amenities as everyday reference
fit out offices to a high standard
for marketing purposes, only to bin
points. Ask someone to meet you
at the Chipperfield building at King’s The continuous rise in
most of it when an occupier moves in.
We should all agree that this is a huge
Cross, for instance, and they may
be flummoxed. Tell them it’s the
central London office
waste of time and money, and terrible one where Vinoteca is, and there rents can only result
for the environment. The solution is is likely to be instant recognition.
simple: build to shell and core only. That demonstrates how important in occupiers becoming
Hopefully this can be done voluntarily, retail/leisure is to the whole
though I’d back legislation if it was composition of an area. more footloose.
necessary and I suspect many of
RICHARD HOWARD projects across Europe and the (rather than simply being able to pay my colleagues would, too.
INTERNATIONAL PARTNER, USA; what are the most interesting the highest rent) is an astute move.
HEAD OF CENTRAL learnings you have brought back However, its worth noting that external And what do you think occupiers
LONDON LEASING to London? factors (such as the refurbishment are looking for in London?
Design should always take precedence of St Pancras) have also played an Apart from well-designed buildings,
How do you describe your role, over specification. Take London’s important part. they want to know if they are going to
in a nutshell? Tea Building (in Shoreditch): one of be able to recruit and retain the talent
Managing the central London leasing the most popular offices in a major they need for their business to thrive.
team involves first and foremost global city and its appeal is all about
keeping in direct contact with key its authenticity and design, not its Assuming that they can recruit
clients and ensuring that all of the specification. The same principle effectively, which parts of London
work we do (for example, at King’s applies to modern buildings. Even are likely to appeal to big space
Cross) is consistently of a high
standard. Coordinating new business
a new tower can be given soul and a
sense of attractiveness – Barangaroo
A massive and very office occupiers?
The continuous rise in central
wasteful anomaly of
CUSHMAN & WAKEFIELD | EMERGING LONDON
wins is also a priority for me. in Sydney is a great example of this. London office rents can only result
in occupiers becoming more footloose
You’ve worked on a wide selection You have been involved with King’s our industry is that we and considering destinations as
of major mixed-use schemes across Cross since the inception of its diverse as Wood Wharf to the east
central London. Which are the key redevelopment. To what do you fit out offices to a high and Elephant & Castle to the south.
common factors that made these ascribe its phenomenal success? I sense the South Bank is evolving
developments successful places Google’s presence for sure, while the standard for marketing from a sought-after but relatively
for people?
Good transport links, an active ground
University of the Arts is also a major
catalyst. A masterstroke for King’s purposes... we should small location, to becoming a very
significant part of the makeup of
floor, office occupiers who add value,
and an honest, authentic presentation
Cross is a total agnosticism about
the tenant line up – from Louis Vuitton
all agree that this is a London’s office supply. This is a
major shift for the capital, as in
are ‘must haves’. Carefully integrating to a housing association – and as a huge waste of time and the past the Thames was seen as
uses is massively important, too. result it feels like an authentic part a boundary. But the plans from
of London. Choosing ground floor money, and terrible Vauxhall to Battersea (see pages
You spend a lot of time visiting urban operators, like restaurant Caravan, 42-47) suggest fundamental change
regeneration and transformation who are spiritually at home there, for the environment. is well underway.
11
10
KEYNOTE | C&W MARKET VIEW
RICHARD PICKERING What role do London’s largest London is a truly global city. What
HEAD OF FUTURES landowners and developers play in are the attributes that make London
STRATEGY realising London’s growth capability? so attractive to those from other
How do you describe your role,
A very significant one. Increasingly
large swathes of developable land
countries and cultures, and are there
any global cities which you believe
If you look to Asia
in a nutshell? are held in single private ownerships. offer key learnings for London? however, London
It involves looking ahead at how the These are the bedrock of London’s London is attractive because it is:
world and our industry is changing, future evolution. Our best developers open, transparent, investable, secure, is still a very low-
figuring out what this means for our will regard these as 100 year-plus vibrant, diverse and exciting (well, you
clients and helping them with their plays, as the great estates have done did ask!). London may reflect on how density city.
strategy, and then making sure that historically, rather than as trading Tokyo effortlessly manages paradoxes
our own business is well placed for opportunities. This requires skills between the traditional and the new,
the future. in placemaking, a long-term view yet is also crazy, fun and innovative.
on investment returns, and a form people with similar interests can in
You originally trained in law and are of paternalism and conscientious Transportation is a key attribute turn coordinate physical interaction
now working in the real estate sector. capitalism that doesn’t exist for any city. How important is the between people who may otherwise
What drew you in that direction? ubiquitously in the property industry. development of London’s transport not meet. I’m quite hopeful for the
I think that a law degree is great network? future in this regard.
preparation for any career – it What is the most exciting Every time we build a tube line,
encourages focus and critical thinking. technological change or innovation we leave less space for the next one. Is London doing enough to prepare
I went into commercial property law, you have come across recently? We probably need to look at building itself for the impact technological
but ultimately found the guys on the The most profound tech change more capacity into the network as advances will have on living/working
other side of the table to be having going forward is going to be digital a priority, rather than add new lines, in the capital?
more fun. automation. I’m not sure whether I’m particularly as the city densifies. The Smart city technology is not at the sexy
excited or terrified about it, but I don’t real issue with infrastructure delivery end of the spectrum – it is much more
Macroeconomic factors such as think that most people have realised in London is that it takes far too long. functional. However, the key challenge
Brexit and London’s housing crisis how societally impactful it is likely to We need to streamline processes, give that London faces is to reduce pain
are often framed in a negative way. be. Conventional wisdom tells us that more planning and purchase powers points (overcrowding, pollution,
Are we conditioned to see big picture when technological processes (such as to TfL and find new ways to capture congestion) rather than to add
items as threats (because they are ICT in the workplace) are introduced, value from property development to excitement, and in this regard urban
Increasingly large swathes outside our control) when we should
be seeing the opportunities which
then people transition over time to
higher value roles. However, this time
support business cases. technologies play a very significant
role. As a medieval city, London must
of developable land are lay within?
Yes, we do tend to focus on the
around, there will be some in society
who won’t be able to find any job that
The latest forecasts from the GLA
suggest London’s population is
retrofit technology solutions into its
fabric, in a way that virgin cities,
held in single private prospect of loss, rather than the
opportunity of gain. This has its roots
can’t be done quicker and cheaper by
a robot. We need to work out how to
forecast to grow annually by over
80,000 people over the next decade.
delivered by Google for instance, do
not. Some of these solutions will work
ownerships. These are in behavioural economics. If you look deal with that. How should London respond? much better in the latter, which puts
the bedrock of London’s
back, the investors who have been It has to increase in density, which London at a strategic disadvantage.
CUSHMAN & WAKEFIELD | EMERGING LONDON
most successful tend to be counter- will not be universally popular. If you To respond positively London needs
future evolution. cyclical ones, who better perceive
the upside opportunities associated
look to Asia however, London is still
a very low-density city.
to emphasise its relative strengths
(like history and culture) and use
with risk. technology to mitigate the negatives.
How are attitudes to work/life
How do you expect London and the The most profound balance likely to affect London’s
tech change going
way people live and interact with the physical environment?
city, to change over the next decade? I envisage a bifurcation in how
Data sets are becoming larger and
more open. Consequently, we should
forward is going to be work is delivered, with mundane
or solitary tasks being increasingly
expect new analytical tools to allow
us to use our resources in a more
digital automation. delivered at home, and interactive
or knowledge-based tasks delivered
efficient way (for instance to manage centrally in flexible spaces that
congestion, to share capital assets bring together work, leisure and
and also to create communities communication. Digitally arranged
and interact with each other). communities that tie together
13
12
SPOTLIGHT ON CANADA WATER
Spotlight on
CANADA
WATER
SE16
The transformation of the former Surrey where the London Overground and Jubilee Line
Commercial Docks, part of the Rotherhithe meet to give unrivaled north-south and east-west
Peninsula, on the south bank of the Thames connectivity. Beyond the rail links the plans KEY
just east of Tower Bridge started in the 1980s. propose to improve bus routes and cycle paths
STATISTICS
Now the London Borough of Southwark’s better connecting the site with the South Bank
Canada Water Area Action Plan seeks to and the City. Also proposed for the area is the
enhance and improve on that first wave world’s longest pedestrian and cycle drawbridge, C&W Evolutionary Status:
of regeneration. Covering over 750 acres, which would create a 184-metre span across UP & COMING
CUSHMAN & WAKEFIELD | EMERGING LONDON
including the SE16 Print Works (which used the Thames linking Rotherhithe with the Isle
to print the Daily Mail and Evening Standard), of Dogs. Like Tower Bridge to the west, it would C&W Location Ranking: 77
Surrey Quays Shopping Centre and Surrey open to allow large ships to pass through.
Quays Leisure Park. TfL travel zone: 2
Other development projects within the wider
The centrepiece of the new vision is scope of the Area Action Plan seek to capitalise Local authority:
unquestionably British Land’s proposal for a on the existing large water habitats and green Southwark
comprehensive £3bn 53-acre redevelopment spaces, many of which are already underway.
anchored around Canada Water Dock, which They include L&Q’s Quebec Quarter, near Russia Distance from central London:
will include up to 1 million sq ft of retail space, Dock, which will provide around 370 homes 3 miles east
a new High Street, 2 million sq ft of workspace and 17,000 sq ft of commercial space over
and approximately 3,000 homes. five acres, and Notting Hill Housing/Sellar Population: 322,000
Developments’ eight-acre scheme, which will (©GLA borough population
Key to assuring the anticipated growth of both deliver approximately 1,000 new homes, 50,000 projections 2018)
housing and commercial space, is an extremely sq ft of neighbourhood retail and a 100,000 sq ft
important transport hub at Canada Water station, UK flagship Decathlon store.
15
14
Canada Water Profile Interview
SPOTLIGHT ON CANADA WATER
British Land’s ROGER MADELIN CBE, Head of Canada Water MY LONDON
Development, and EMMA CARIAGA, Canada Water’s Head of
Operations tell us about creating a High Street from scratch,
how it feels to be responsible for creating a new part of London
and reveal their favourite shopping spots in the capital.
Roger Madelin
CBE
How do you describe what you’re doing at Canada
Water to people who aren’t aware of what exactly What is your favourite part
is happening here? of London?
Roger It is simply the most amazing opportunity that Somewhere between here [Canada
I’ve come across in more than 30 years developing. We are Water] and Waterloo depending
in control of evolving a new place with up to 20,000 people on whether I turn left or right on
working, being educated and visiting every day, on top of my bike – the back streets of the
30,000 people living here. South Bank.
The first phase of development is potentially 1.8m sq ft. We know that, as long as we Chiswick High Street – a wide space
Do you already have a vision in your own minds how that
get it right, retail and leisure
with interesting shops and chance
space will look? to meet a diversity of people.
Roger We have a very clear idea of what the first phase will
look like. One of the things we will do is build a new High Street. space will be fundamental to Do you have a personal
Contrary to what many people believe, not all High Streets
creating a great new urban area.
ROGER MADELIN CBE ‘hidden London’ location
HEAD OF CANADA WATER are declining and we’re going to incorporate the best things about you’d like to share?
DEVELOPMENT, BRITISH LAND existing ones. To do that we will bring forward flexible buildings Around Charterhouse Square.
that allow for a mixed offer and importantly allow for adaptation I used to cycle past, but one day
over time. We have learned lessons from retail environments that So, this is a case of changing perceptions. I went to have a proper look.
function well, that allow for control of traffic and create Emma Because people don’t know what is here, their perceptions
pavements/street environments that are safe and inviting. aren’t negative. It’s more a case that they simply have no Best location in London
perceptions. Often, when they visit for the first time, they are to shop for quirky gifts?
Alongside the retail, our first phase will deliver exciting new unsure of where they’re going – people often think we’re east of I like somewhere I can get in
working environments, a new leisure centre and up to 650 Canary Wharf – yet when they get here they’re really surprised, and out of quickly, so big properly
homes. Once completed it will be a substantial place in its own because it took them half the time they expected it to. managed department stores like
right and transformational in terms of establishing Canada Selfridges are ideal for me.
Water as a much more urban place than it appears today. That bodes well for discussions with potential occupiers.
Roger It does and we’re already talking to a wide variety of possible Parts of London you’d
It’s not every day you get to design a High Street office tenants. Not just FTSE100 companies, big consultancies, and like to explore more?
from scratch. technology and banking firms, as you might expect, but also small Meridian Water, Woolwich
Roger Precisely, and that’s what makes Canada Water so design companies and higher education institutions. And these and Thamesmead.
CUSHMAN & WAKEFIELD | EMERGING LONDON
special. No-one has had planning permission to allow them aren’t cursory conversations, but exploring how much can we
EMMA CARIAGA create a major retail and leisure hub so close to central London provide, when and for how much. What is your favoured form of
HEAD OF OPERATIONS, for a very long time. Current policy allows us to build up to transport around the capital?
CANADA WATER, BRITISH LAND one million sq ft. That’s scary and exciting, in equal measure, And you will also be building new Bike – today I’m on a Specialized
because we know that the retail and leisure markets are residential accommodation. Langster – a single-speed
challenging right now. But we also know that, as long as Emma A functioning urban environment needs people around aluminium frame design.
we get it right, that space will be fundamental to creating at different times of the day. Alongside the retail and workspace, But normally I ride a Condor
a great new urban area. we will be delivering approximately 3,000 homes. With that Gran Fondo Titanium with
kind of scale we can create a real mix of homes that appeal Shimano Dura-Ace gears;
And you have plans for plenty of office space, too. to a broad range of ages as well as a full spectrum of incomes. I also have a Brompton.
Roger If you ask anyone at the moment “Is Canada Water One of the reasons people leave a place is because there’s
a good place for offices?” the answer will probably be “No”. nowhere for them to staircase up or down to. Our aim is to
But why would it be anything else at this stage? We’re not deliver a good range of property types that Londoners can not
surprised about responses from people who haven’t been only afford, but are actually attractive to them, which in turn
here, but we are pleasantly surprised that everyone who will create a place where people want to stay. That means
comes here seems to get it – that’s what keeps us going. creating homes for everyone from students to senior citizens.
17
16
SPOTLIGHT ON CANADA WATER
We’re not Our aim is to end up with properties
going to force that local people can not only afford, MY LONDON
community, but are actually attractive to them,
but we have which in turn will create a place
the ability where people want to stay.
Emma Cariaga
to connect
people.
Talking of interesting environments, the place from the start. We’re not going What is your favourite part
you seem to have been pleasantly to force community, but we have the of London?
surprised by the popularity of the ability to connect people. The Royal Courts of Justice
Printworks (a former industrial on the Strand – my dad was
building) as a temporary music venue. British Land plans to retain a Solicitor and I used to go
Emma The music events are really and manage the land at Canada with him to watch and listen.
popular and we’ve recently adapted the Water once it has been developed. So, I enjoy spending time
space to allow live music which has seen How does that affect how you there now when I can.
performances from artists as diverse as build out the scheme?
Corrine Bailey Rae and Django Django. Roger In practical terms, it means Do you have a personal
Given the history of the site and the we can spend more on public realm, ‘hidden London’ location
amazing industrial interior, we are very more on infrastructure and more on you’d like to share?
much keeping an open mind on whether future-proofing. I find it extremely Inside the Barbican Centre –
Printworks could form part of the satisfying to be able to think and plan I used to walk around it and thought
longer-term masterplan as an events for the long-term. it was impenetrable, but the inside
space. For now, it is certainly helping is incredible.
to put Canada Water on the map. And how does it feel to be working
on Canada Water? Best location in London
This must remind you (Roger) Emma It’s a massive privilege and to shop for quirky gifts?
of previous regeneration projects good fun, but also a huge responsibility Tate Modern gift shop.
you have worked on, most recently to get it right, as this sort of opportunity
King’s Cross? doesn’t come up very often. The Range (including the Canada
Roger Actually, it is even more exciting Water branch) – it’s great for
than King’s Cross. The mix of uses is Roger It makes me feel 30 again! inflatable snowmen at Christmas!
different to anything else, including I cannot think of another job that
the abundance of recreational space. would be more exciting than building Parts of London you’d like
You can do a 5km running circuit and a whole piece of a city, with 35 buildings to explore more?
only have to cross one main road. and 15 parks and squares. Crystal Palace
Well-being (i.e. both mental and physical
health) will be built into the fabric of www.canadawatermasterplan.com What is your favoured form of
CUSHMAN & WAKEFIELD | EMERGING LONDON
transport around the capital?
The tube.
At a glance –
CANADA WATER
British Land owns 53 acres of former London Docklands on the south bank
of the Thames near Rotherhithe. In May this year, they applied for Master
Plan consent for a comprehensive redevelopment that will effectively create
a new urban quarter in the London borough of Southwark. A total of 3,000
new homes, 1m sq ft of retail and leisure space and 2m sq ft workspace,
plus a number of parks and dock habitats, are planned across an area that
currently includes Surrey Quays Shopping Centre, Surrey Quays Leisure
Park and the SE16 Printworks.
Barbican Centre, London - © Rob Bye
19
18
SPOTLIGHT ON BARKING
Spotlight on
BARKING
IG11
One of London’s newest boroughs, Barking One of the first new generation schemes to
& Dagenham was designated part of the capital come forward will be the redevelopment of
in 1965. While Dagenham’s industrial heritage Vicarage Field Shopping Centre. Owner Benson KEY
(notably the Ford factory, which still produces Elliot and partner Londonewcastle will provide
STATISTICS
up to 1 million vehicle engines each year) over 800 homes while creating a new retail
is well-known, Barking’s identity has been hub (see Interview pages 22-25).
less clearly defined. Until now. C&W Evolutionary Status:
Outside the town centre, funding was agreed UP & COMING
CUSHMAN & WAKEFIELD | EMERGING LONDON
In a bold statement at MIPIM 2018, Be First, in early 2018 for a £263 million extension of
the private development company set up Transport for London’s Overground line to C&W Location Ranking: 73
by the local authority in 2017, described the a new railway station at Barking Riverside,
regeneration plans for Barking town centre as due to open in 2021. One of the UK’s largest TfL travel zone: 4
a “mini Manhattan”. Already widely respected regeneration projects and led jointly by the
within the property industry, Be First, chaired Greater London Authority and developer L&Q, Local authority:
by veteran urban champion Lord Kerslake, the redevelopment of Barking’s power station Barking & Dagenham
plans to generate up to 20,000 jobs and create at Riverside will deliver nearly 11,000 new
50,000 homes on just short of 1,000 acres of homes, housing 29,000 people, as well as Distance from central London:
development land within the next two decades. circa 700,000 sq ft of commercial, including 9 miles east
The proposals showcased at MIPIM include retail/leisure space.
development above Barking’s central main Population: 213,000
line rail and Tube station, which would deliver (©GLA borough population
more than 2,000 new homes. projections 2018)
21
20Barking Profile Interview
SPOTLIGHT ON BARKING
The 1.3m sq ft residential-led redevelopment at Vicarage Field
is key to unlocking a series of regeneration initiatives in central
Barking. PETER CORNFORTH, Project Lead at site owner Benson
Elliot and JAMES SHINDLER, Director at development manager
Londonewcastle tell us how perceptions of Barking are changing,
explain why green spaces are important for any regeneration project
and disclose why, one day, one of them will visit Cockfosters.
You’ve done a lot of public As humans we are better at dealing
consultation as part of the planning with things we can see in front
for Vicarage Field. Did these of us, rather than on a plan.
highlight any misconceptions Peter Definitely true, but there’s more
about Barking as a place? to it than a few buildings coming out
Peter I’d argue that a person can’t have of the ground. To inspire perceptions
a misconception about a place because and empower opportunity, you need
if that’s what they think, that’s what they something to hang your hat on and
think. The overwhelming response to central Barking’s a bit short of
the surveys we did is essentially: ‘bring it hat-hanging things at the moment.
on’. There’s a consistent local sentiment That’s about to change. The development
that Barking can benefit from the sort of of several projects will give the area
contemporary catching-up they see in a much stronger experiential and
other parts of the Capital, so people are visual identity.
PETER CORNFORTH supportive as they see it delivering
RETAIL DIRECTOR, BENSON ELLIOT things they want. And one of those projects is
Vicarage Field, where the designs
OK, but presumably there are by Studio Egret West have been
still some perception issues. largely applauded.
James The perceptions are around James This is third time we’ve worked
Barking’s old-school geography, being with SEW and they are as ambitious
a close neighbour of Essex – that’s not and design-led as we are. We are
There’s an undertone a bad thing, it just makes it sound a bit
further out. The reality is that it’s as
conscious that our scheme should stand
out in a good way. It is refreshing to work
of affordability which near to central London as Ealing is
on the west side of town.
with an architect who just sees London
as a wonderful place with a lot of
we are keen to sustain opportunity both in terms of new
CUSHMAN & WAKEFIELD | EMERGING LONDON
These sound like attitudes that buildings and preserving heritage.
and utilise to encourage will take a while to alter.
Peter I’ve always believed that changes
We’re particularly pleased that both
the Council and GLA accepted the
new formats, ideas in perception emerge organically. One of
the exciting things about Barking is that
design integrity of the plans – they
recognise it’s a high-quality scheme.
and community JAMES SHINDLER
DIRECTOR, LONDONEWCASTLE
whilst its got its fair share of physical
heritage, the centre isn’t jam packed with So, we know how Vicarage Field
experiences. ancient or historic buildings; creating
the opportunity to deliver a really bold
will look. What about how the mix
of uses within the scheme will work?
and exemplary design solution with a Peter We are determined that the
freshness and vitality that will be interaction between commercial and
interesting across a wider geography residential space will be socially
than Barking itself. I’m confident that sustainable, today and tomorrow.
as we work through and deliver our In terms of layout and uses we have
masterplan, perceptions will be rebased maximum flexibility, including
to anticipate the great things ahead. podium amenity (garden) space.
23
22SPOTLIGHT ON BARKING
We are determined that the
interaction between commercial
and residential space will be
MY LONDON
socially sustainable.
Peter Cornforth James Shindler
What is your favourite part What is your favourite part
of London? of London?
Lordship Lane, East Dulwich – I’m a new-found fan of Peckham:
where else can you find restaurant the village, the restaurants,
MEATliquour alongside a shop the authentic atmosphere.
selling plastic buckets? (See pages 28-29)
Brixton – still more to come and I also rate Crouch End: it has
The Department Store project is a village feel, and the lack of nearby
a stunner. (See pages 32-33) tube is something of a positive.
Do you have a personal ‘hidden Do you have a personal ‘hidden
London’ location you’d like to share? London’ location you’d like to share?
Whitechapel – all the best places Bermondsey arches – nobody
Rooftop gardens sound interesting. existing stock and encouraging all forms interesting user-led models being you’ve never heard of; Tayyabs, really knows where it starts or finishes.
James This is a good example of heritage of tenure across new build schemes, implemented across the coworking/ At a glance – Wilton’s Music Hall and Indo.
and amenity coming together. Our site ensuring the benefits of regeneration are living and hospitality/entertainment Best location in London
once served as the vineyard for Barking felt throughout the community. sectors. Barking has a seething VICARAGE FIELD, Best location in London to shop for quirky gifts?
Abbey, and more recently as market enterprise and arts culture going BARKING to shop for quirky gifts? Charlotte Street, Fitzrovia.
gardens. So, our modern take is to create Vicarage Field will deliver a fully on and the council is very keen to Peckham Levels (See page 28-29).
micro allotments on the roof above the mixed use town centre scheme. expand and promote that. Pan-European private equity Place to go for a night out:
commercial space. Having green space Peter That’s been the objective from fund manager Benson Elliot Best location in London to eat? Granary Square, King’s Cross.
and growing things is attractive to the start and what we’ve picked up Indeed, the council set up its own and London-based developer Sparrow at Lewisham – wow!
people. We’ve successfully worked strongly throughout our local dialogues. private development company in Londonewcastle plans to Parts of London you’d like
with the Nomadic Gardens community With very little new development of 2017, Be First. transform an existing shopping Bellenden Village, Peckham – a perfect to explore more?
project on previous schemes. While commercial space in the town centre James They’re now working closely with centre in central Barking micro destination; from traditional Deptford and Alexandra Palace.
accessible green areas aren’t particularly for a number of decades the us as they want the scheme to progress to create a new mixed-use boozer to edgy global cuisines.
expensive they bring a huge benefit opportunity’s there to renew, reposition quickly because it will have a ripple effect development over five acres. What is your favoured form of
CUSHMAN & WAKEFIELD | EMERGING LONDON
for residents. and re-energise Barking’s social and on bringing other sites forward. They The project will comprise Place to go for a night out: transport around the capital?
commercial core. On the other hand, certainly see the bigger picture, as well 850 homes, an hotel, flexible Camden – still rocks and I love I like driving, so normally
Talking of residents, the most there’s an undertone of affordability as being proactive and ambitious, which business space, 150,000 sq ft The Roundhouse. whizz around in a small car.
recent London Plan calls for a lot which we are keen to sustain and utilise in the long term can only be good for replacement retail and 100,000
more housing across London. Do you to encourage new formats, ideas and Barking. sq ft of F&B/leisure. The project Parts of London you’d like
see space for that in Barking? community experiences. will be phased over three to to explore more and why?
Granary Square - Kings Cross
Peter The draft new London Plan is a How does it feel to be working on five years with construction Cockfosters – just to see what’s there
fairly recent manifestation of something How does Barking compare Vicarage Field? expected to start late 2019/
that’s been in the policy pipeline for with similar districts in other James I feel proud and excited. early 2020. Forest Hill/Crystal Palace –
some time. Our view is that Barking European cities? Peter It’s pretty humbling . I certainly they’re on my doorstep.
absolutely has significant physical Peter We’re witnessing more disruption feel a weight of responsibility, and, as
capacity to deliver a whole raft of new to consumer behaviour and lifestyles in Council leader Darren Rodwell correctly What is your favoured form of
homes, both in the town centre and London than almost anywhere. Because points out, I should, as what we are doing transport around the capital?
across the wider borough landscape, for of that we’re keeping flexibility at the will still be here in 30-40 years’ time. Public – bus and tube if getting
example at Riverside. The Council are heart of our design process; I wouldn't from east to west.
proactive in renewing and enhancing be surprised if we see some really www.newvicaragefield.co.uk
25
24SPOTLIGHT ON DEPTFORD
Spotlight on
DEPTFORD MY LONDON
SE8
Libby Cutress
LOCAL RESIDENT
DEPTFORD
How would you describe what Best location in London
is happening in Deptford? to shop for quirky gifts?
Deptford is changing rapidly, which is Deptford Market...no question!
both good and bad. Having lived in
the area for a while, I'm worried that if Best location in London to eat?
it carries on at this pace, it will start to My current favourites are actually
lose some of the charm and that the in Deptford. The Waiting Room -
old-timers and businesses that make for vegetarian/vegan breakfasts
the place special will eventually move and coffee and Hullabaloo - for
KEY on. On the other hand, we've had lots amazing (and cheap) paneer
STATISTICS of new independent businesses move curries. Otherwise I've had some
in, which means I rarely have to leave great food in Peckham namely
the area if I need something. Pedlar and Artusi. The latter now
C&W Evolutionary Status: has a sister restaurant in Deptford
While Barking has designs emulating the Big Apple, FLOURISHING Which five words best called Marcella which is yum.
Deptford has looked closer to home for inspiration. describe Deptford?
The long-trailed Convoys Wharf redevelopment on C&W Location Ranking: 58 1. Colourful Best location in London
the banks of the Thames has the potential, according 2. Charming for a night out with friends?
to its backers, to turn a neglected riverside area into TfL travel zone: 2 3. Vibrant I tend to stay in Deptford, but the
the ‘Shoreditch of South London.’ Like the Printworks 4. Resilient rare times I head out further afield,
at Canada Water (see pages 14-19) this is another former Local authority: 5. Community it's usually to Peckham or Brixton.
newspaper-related site which could see big change. Lewisham
A consented scheme allows for 3,500 new homes to What are people who haven’t Best location in London
be built on 41-acres of ex-News International land, Distance from central London: been to Deptford missing? for visiting with family/relatives?
also opening up river frontages for public access. 4.5 miles south east It's got amazing character and Greenwich – to have a look in the
quirkiness, and although gentrification market and have a walk in the park.
Although Convoys Wharf is still at the planning stage, Population: 310,000 is creeping in, it has certainly not lost
CUSHMAN & WAKEFIELD | EMERGING LONDON
other developers have already moved in to complete (©GLA borough population its charm yet. The flea market on What is your favoured form of
smaller schemes, like U+I’s Deptford Project, winner projections 2018) Wednesday's, Friday's and Saturday's transport around the capital?
of the 2017 London Planning Awards. – you can buy anything and everything, Cycling or London Overground.
Two acres of former railway land, including usually for a bargain. A great variety
derelict arches, next to the railway station, of pubs. My personal favourites are: Part of London you’d like
which provides quick access to central The Dog and Bell (calm and nice beer), to explore more and why?
London and Kent, have been given a The Royal Albert (cosy, great food and A friend lived in Harringay Green
new lease of life. The scheme includes footy), Villages (microbrewery) and Lanes for a little while and I always
132 homes and Deptford Market Yard, The Birds Nest (music and burgers). liked it there – would love to explore
a quirky home for 14 retail/leisure it more.
operators. The lower half of Deptford Do you have a personal ‘hidden
High Street, where traditional pie-and- London’ location you’d like to share?
mash shops sit alongside nail bars and It's not really a secret – but Telegraph
Vietnamese cafes, has recently benefited Hill for free tennis and amazing views
from a £2.1m makeover. over London.
27
26SPOTLIGHT ON PECKHAM
Spotlight on
PECKHAM MY LONDON
SE15
Kwabena
Amponsa
COMMUNITY MANAGER
PECKHAM LEVELS
How would you describe that celebrates all people regardless
what is happening in Peckham? of age, race, class or religion. I hope
Peckham is an area filled with a wealth it will encourage enterprise with social
of talent, from different demographics, responsibility. And I hope it will be
Brick Brewery races and ages, and demonstrates a place where young people have
where multiculturalism is working well. opportunities.
KEY The style of regeneration here reflects
STATISTICS that, with strong local organisations like Do you have a personal ‘hidden
Peckham Vision, meaning that local London’ location you’d like to share?
people can have a voice. There is Zionly Manna Vegan Rastarant –
C&W Evolutionary Status: definitely a DIY culture here. and I’m not even vegan!
Peckham, home to the UK’s only sake (Japanese rice wine) FLOURISHING
distillery, is fast shaking off its Only Fools and Horses Which five words best Best location in London
image. Many parts of London offer roof-top terraces, but C&W Location Ranking: 45 describe Peckham? to shop for quirky gifts?
seasonal summer-only Frank’s bar on the top level of a 1. Vibrant Copeland Park on a sale weekend.
multi-storey car park has become one of the hippest TfL travel zone: 2 2. Enterprising
places to be seen in the capital. In fact, the car park is 3. Creative Best location in London to eat?
becoming something of a defining theme in Peckham, Local authority: 4. Multicultural The Coal Rooms, Peckham.
where Carl Turner Architects (the guiding light behind Southwark 5. Plentiful
POP Brixton (see pages 32-33)) has teamed up with social Best location in London for
enterprise Make Shift to transform underused levels of the Distance from central London: What are people who haven’t a night out with friends?
multi-storey into community-led commercial and leisure 3 miles south east been to Peckham missing? Peckham Levels.
space, including art studios, pop-up stores and galleries. A great and welcoming community,
Population: 322,000 where money invested benefits the Best location in London for
CUSHMAN & WAKEFIELD | EMERGING LONDON
Originally devised as a temporary measure, (©GLA borough population local area. Peckham Levels. Peckham visiting with family/relatives?
the surprise success of Peckham Levels means projections 2018) Plex. Peckham Springs. South London Through central London on
demolition of the car park has been put on Gallery. The Prince of Peckham a red bus.
hold. Other redevelopment plans are alive (community pub). Ivy House
and well nearby, with work recently started (co-operatively owned pub). What is your favoured form of
on Southwark council’s upgrade for the transport around the capital?
area around Peckham Rye station, which Apart from Peckham, what is your I cycle (on a custom-made hybrid)
will include new public realm and favourite part of London and why? and walk.
commercial units. Also expected in 2018 are Brockley – a little bit of suburbia
definitive proposals for Tiger Development’s in Zone 2. Part of London you’d like
regeneration of the Aylesham Centre to explore more and why?
shopping complex on Rye Lane, which What is the most exciting change West London – I’m pretty well
could include 400 new homes, as well as you see in London over the next travelled around the rest of London,
new retail, leisure and commercial space. five years? but if I had more time I’d go here
The Coal Rooms I hope that it continues to be a place more often.
29
28SPOTLIGHT ON CROYDON
Spotlight on Which five words best
describe Croydon?
Colindale – real food for real
people in a quirky location.
CROYDON
MY LONDON 1. Dynamic
2. Diverse Best location in London
3. Vibrant to shop for quirky gifts?
4. Ambitious Brixton Market.
CR0
5. Modern
Best location in London to eat?
What are people who haven’t West End. Shoreditch. Notting Hill.
John Grimes
been to Croydon missing?
A real understanding of the ease of Best location in London
access to what is a city in all but name. for a night out with friends?
HEAD OF DEVELOPMENT LEASING Ladbroke Grove. Notting Hill.
HAMMERSON Apart from Croydon, what is your
favourite part of London and why? Best location in London for
How would you describe Brent Cross in North West London visiting with family/relatives?
what is happening in Croydon? where Hammerson jointly owns Kings Road, Chelsea.
Croydon offers first class transport links a very unique retail destination. Borough Market.
to and from the largest office district
outside London. Our rejuvenation of What is the most exciting change What is your favoured form of
the town centre will also restore you see in London over the next transport around the capital?
Croydon to its rightful prominence five years? London Bus – best way to find
within the retail hierarchy of the Home The complete transformation of out what’s going on.
Counties. There is simply no dominant both Brent Cross and Croydon
retail centre in between central London as retail destinations. Part of London you’d like
and the South Coast and that’s the role to explore more and why?
that Croydon will play following the Do you have a personal ‘hidden Places like Leadenhall Market
KEY successful completion of the proposed London’ location you’d like to share? and the many Roman remains
STATISTICS new shopping centre. Bang Bang Oriental Foodhall in scattered around the city.
C&W Evolutionary Status:
As London’s fastest growing tech start-up cluster Croydon Tech City MATURING
looks set to give Shoreditch a good run for its money. The borough
Alice Bryson
is home to South London’s largest co-working and tech incubator C&W Location Ranking: 22 Apart from Croydon, what is your Best location in London for
centre TMRW and now boasts over a thousand digital, tech and favourite part of London and why? visiting with family/relatives?
creative start-ups. At the other end of the scale, comprehensive TfL travel zone: 5 South London (Balham/Clapham) Central London (museums,
big-ticket redevelopment of the town centre is well underway, LOCAL RESIDENT as it’s where I lived before moving to Hyde Park). Camden Lock.
including the £30m refurbishment of the Fairfield Halls arts venue. Local authority: CROYDON Croydon – it has a great social scene. Portobello Market.
Croydon
Stanhope and Schroders’ Ruskin Square mixed-use scheme, providing How would you describe What is the most exciting change What is your favoured form of
high spec offices right next to East Croydon station, has already netted Distance from central London: what is happening in Croydon? you see in London over the next transport around the capital?
one major tenant (HMRC) for the first 184,000 sq ft building and the 9 miles south Croydon is becoming very up and five years? The tube.
temporary addition of an 80-unit Boxpark providing pop-up street coming. Lots of bars and restaurants Development of areas such
CUSHMAN & WAKEFIELD | EMERGING LONDON
food places in disused containers has been a big hit. The most talked- Population: 391,000 are opening (Boxpark, in particular, as Croydon. Part of London you’d like
about show in town is undoubtedly Westfield and Hammerson’s (©GLA borough population is very popular) and lots of flats are to explore more and why?
proposed £1bn 1.5m sq ft regeneration of the Centrale and Whitgift projections 2018) being built. Best location in London North London - as we’ve always lived
shopping centres. to shop for quirky gifts? south I don’t know the north as well.
Which five words best Camden and Shoreditch.
Around 9,000 new homes are the pipeline describe Croydon?
across the borough, with more than half 1. Diverse Best location in London to eat?
expected to be concentrated in the town 2. Vibrant Depends what you’re looking for!
centre. They include 800 apartments in 3. Misunderstood There are great places everywhere.
Guildhouse Rosepride’s planned One 4. Entertaining Portobello is one of my favourite
Lansdowne, due to be the UK’s second- 5. Family-friendly areas to eat.
tallest building. Croydon will also be home
to two of the world’s tallest towers built What are people who haven’t Best location in London
using modular construction at Greystar been to Croydon missing? for a night out with friends?
and Henderson Park’s 550-apartment Great bars, restaurants and shopping East London, especially Shoreditch.
Portobello Road
101 George Street development. and family entertainment.
31
30You can also read
