Essel in talks to take over £3.5bn Silvertown development

13th April 2018

The Silvertown Partnership is in talks with Indian conglomerate Essel Group, over the sale of its £3.5bn development in the Royal Docks. Existing plans to build 3,000 new homes on the brownfield regeneration site will still go ahead; however, Essel wants to build a 2.5m sq ft destination at the heart of the 62-acre project, celebrating India’s culture and history, including museums, a theatre, retail outlets, restaurants, a botanical garden, and a luxury hotel. HPW Architects will lead on the design while Mace, the developer behind the Shard, will take control of its construction. If the plans are approved by the Greater London Authority and the Silvertown Parnership, Essel Group’s proposed development could see the cultural centre open by 2023. A decision is expected this month.

Property Week (09/04/2018)