Docklands project receives green light
Approval has been awarded to a new mixed-use development in London's Docklands district.Workspace Group has been given the green light for the redevelopment of Poplar Business Park will include the construction of a new 58,000 sq ft business centre and 12,000 sq ft of additional light industrial workshops.The scheme will be situated just 800 metres from Canary Wharf and will also benefit from the creation of up to 392 residential apartments - 20 per cent of which will be made available for affordable purchase once complete.It will also see the creation of two new public squares and improved transport links from Poplar High Street to Canary Wharf and Wood Wharf.Jamie Hopkins, chief executive officer of Workspace, commented: "We are delighted to have secured planning permission for the redevelopment of the Poplar Business Park."It is a significant redevelopment in an area that will be experiencing a lot of change over the coming years with the arrival of Crossrail at Canary Wharf."He added that once completed, Poplar Business Park will become a thriving business and residential location in the heart of the capital.It will provide a significant boost to both the capital worth and rental income of the site, with the project demonstrating the company's ability to add value through effective asset management.Workgroup had the site valued at approximately £21 million in March this year, with the redevelopment scheme replacing 75,000 sq ft of existing light industrial units.The firm currently operates in the region of 100 properties across the capital, delivering 5.1 million sq ft of office accommodation, which is itself home to in excess of 4,000 businesses and 30,000 individual workers.A FTSE 250 company on the London Stock Exchange since 1993, Workgroup has a strong track record in creating inviting and popular business destinations for companies across London over the last quarter of a century, with this latest project soon to add to this impressive portfolio of work.
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