Bishopsgate Goodsyard Regeneration Ltd, the 50-50 joint venture between international property developers Ballymore and Hammerson, has completed the Section 106 agreement, unlocking the 1.7-million-square-foot, mixed-use regeneration area in Shoreditch, one of central London’s highest-growth neighborhoods.
The agreement formalizes the planning consent, received in late 2020, for the Bishopsgate site and was approved by the London Borough of Tower Hamlets, the London Borough of Hackney, Network Rail, Transport for London and the Greater London Authority. It represents the final stages of the planning process and allows the joint venture to begin the next phase of development, which will include preparing the detailed design, undertaking site-enabling works, and working with Network Rail on a delivery and phasing plan, with the first phase of construction anticipated to begin in 2024.
The planning consent also secures 50 percent affordable housing for the scheme, as we
