The future is gleaming for the Royal Docks as a £314m regeneration plan has been given the approved. The project is predicted to attract more than £5bn in inward investment by 2037/38.

A detailed delivery plan for the Royal Docks Enterprise Zone was approved by the London Economic Action Partnership, the organisation responsible for allocating funds to the scheme.

This is huge news for the area as Mayor of London Sadiq Khan delights, “Today marks a major step forward in the development of this site, which has the potential to become not only an important new business destination but also a key part of the capital’s cultural life.”

At the core of the plans, is the new enterprise zone, which will be London’s first. The enterprise zone encourages new business creation and innovation, as it is a space where employers can receive business rate tax relief and financial support.

There will also be investment in transport infrastructure, connectivity, economic development, placemaking, and promotion and estate management.

Key projects in the plans

  • Creating an attractive waterside residential, leisure and business district for the borough of Newham and for London as a whole;
  • Enhancing the public realm and creating high-quality spaces, ensuring the landscape reflects the area’s industrial heritage and accommodates both cultural and business uses
  • Significantly improving transport and digital connectivity for residents and businesses
  • Increasing the provision of affordable workspace by investing in underused sites and supporting the development and retention of SMEs
  • Developing an ambitious employment and skills programme to train local people
  • Developing an ambitious cultural programme
  • Engaging the local community and businesses in and around the Royal Docks to ensure they have a stake in the area’s regeneration;
  • Promoting the Royal Dock as destination which attracts talent, visitors and inward investment from around the world
Royal Docks

Royal Docks

“The Royal Docks was once an economic powerhouse – with these plans we are aiming to lay the foundations so that it can once again play a crucial role in the life of the capital.” Sadiq Khan continued.

London Assembly member for City and East, Unmesh Desai, added, “I am delighted that there is a real focus in the plans to generate much needed affordable workspace and local employment programmes.

Regeneration schemes like these, which prioritise the needs of the community, are integral to Newham’s future, ensuring that it will become a sought-after destination for the capital’s leading businesses and creative talent. London is moving east.”

Newham’s mayor, Rokhsana Fiaz, said, “This is exciting news for Newham. The potential of this investment to improve the lives of our residents and benefit the whole of London is great and will fully involve our local residents. I am pleased that they will be at the heart of this exciting regeneration project with businesses from around the world.”

Schemes like these are an enormous vote of confidence in the future of East London, but more specifically the Royal Docks, where we reside at Warehouse K. The growth of the area provides new businesses with a fantastic opportunity to come and set up in our excellent office space right at the heart of the Docks.

Between the new cultural hub in Stratford, the new Canada Water scheme, and now this vast investment into the Docks, there is no doubt that London is moving East – and we are the perfect place to set up and enjoy the expansion.