A SECRETIVE consortium of offshore property investment trusts is planning a £300 million development of a large site opposite the Millennium Dome.
The consortium, represented by Capital and Provident, has submitted plans to Newham Council to build 1,479 homes close to Canary Wharf.
Peruvian Wharf is situated on a 19.5 acre site within Newham’s “Arc of Opportunity”, at the heart of the Thames Gateway regeneration zone.
The development, formerly occupied by Tate & Lyle, will incorporate offices, hotels, leisure facilities and housing — 35 per cent of which will be “affordable” — around a working wharf, capable of dealing with 500,000 tonnes of cargo a year.
Other plans include a landscaped open area covering a quarter of the site, with a riverside walkway and a large public square on the riverfront with retail and communal facilities.
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The developers will contribute £2 million to provide access for the DLR route and a new station.
The planning application is being considered by Newham Council, and a response is expected around Christmas.
Sir Robin Wales, leader of the London Borough of Newham, has already commended the application, commenting: “We are keen to see the delivery of high quality, mixed-use regeneration on the Peruvian Wharf site.”