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21/02/2018

Khan and L&Q agree £500m for Barking Riverside

Words: Laura Edgar
Barking Riverside / Geograph, Robin Webster

A regeneration project in East London will receive £500 million that will go towards providing transport links, parkland and other community amenities.

Barking Riverside, a designated NHS Healthy New Town, is also expected to deliver nearly 11,000 homes, half of which are expected to be affordable.

Mayor of London Sadiq Khan and L&Q, a housing association and developer, have agreed the investment. The two formed Barking Riverside Limited to deliver the masterplan for the project.

The Section 106 agreement, reached with the Barking and Dagenham London Borough Council and Transport for London (TfL), means the project now has funding for:

  • A new TfL Overground station;
  • Land for seven school – five primary school, one secondary school and one for special educational needs;
  • 65,000 square metres of commercial, retail and leisure space;
  • A combined health and leisure facility;
  • A cycling hub;
  • Two local retail and dining hubs; and
  • Employment, skills and training so local people benefit from the opportunities created by the project.

Matthew Carpen, project director for Barking Riverside Limited, said: “This is another significant landmark for Barking Riverside, and signals ‘lift-off’ for all future activity on site. It commits us to over £0.5 billion of infrastructure investment over a 15-year build programme. This agreement demonstrates the dedication to our partnership with the local authority and TfL, to deliver the goals of the project – a new piece of city with improved connectivity and a multitude of opportunity for both existing and future residents.”

Image credit | Robin Webster

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