Hundreds of new homes look set to be built in London as part of a planned £80 million canal-side development.
With Deutsche Bank having sold a two-acre site next to Regent's Canal in Shoreditch to A2Dominion developers, plans have now been unveiled to give the area an £80 million facelift.
Notably, of the 327 flats planned for the site, 95 will be set aside as
affordable homes, with the remainder to be put on the open market, the East London Advertiser has reported.
At the same time, the existing warehouses and wharves will also be converted into high-end commercial property, including office accommodation and retail space.
In addition to being within walking distance of the Barbican Centre, in the heart of the City, the new development will also offer
affordable homes within easy reach of the vibrant areas of Old Street and Hoxton, with work expected to have been completed by 2013.
At the same time, A2Dominion has also announced that it is to start work on a £50 million regeneration of a council estate in Stanwell, Surrey, with this also set to include the construction of numerous new homes.
See Also: Property News (6699)
Date Published: 29 January 2010
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