Workspace to build business centre, 200 homes in Stratford

A large new business centre and 200 new homes were announced for Stratford on Thursday, with Workspace revealing its final plans for a large site in the east London area.

The London-based real estate investment trust received planning permission for the redevelopment of the industrial estate on Marshgate Lane in Stratford, Newham.

Its 93,000 square feet of light industrial space was valued at £14m in September. The site lies 400 yards from the Olympic stadium, and is nearby to Pudding Mill Lane station on the Docklands Light Railway.

The planning consent would allow Workspace to replace existing buildings with 200 residential units. These would be a mix of townhouses, apartments and 17% 'affordable housing'. It would also include a 34,000 square foot business centre.

Workspace said the development would increase the total employment density of the Marshgate site, and provide much-needed housing for the Stratford area.

"We are delighted to have been granted planning permission for a new business centre in Stratfors, and see
this as great news for new and growing companies in the area who will benefit from the new space we're providing", said Workspace CEO Jamie Hopkins.

"This demonstrates our ongoing commitment to taking advantage of redevelopment opportunities where we can to drive rental income and enhance the value of our existing portfolio", he added.