Rathbone Market is a key part of plans for the Canning Town and Custom House area, which is identified as a strategic priority for the London Borough of Newham, LTGDC, Mayor of London and the London Development Agency. The 680,000 sq ft scheme will be one of the first sites to be developed within a wider masterplan framework that sets out a visionary, deliverable long-term strategy for the regeneration of the area. Located close to a major transport interchange with the DLR and Jubilee Line services to Stratford and site of the new Olympic Village, Canary Wharf, the City and the West End the comprehensive redevelopment of the Rathbone Market site is key to providing a sustainable commercial future for the local area.
The plans will see Rathbone Market provide new residential and retail space with state of the art community facilities for the area along with a rejuvenated market bringing vibrancy, colour and life into the heart of the development. Leading the design process is world-renowned and award winning architects CZWG. The design includes plans for a 21-storey building signalling the regeneration of the market site and the wider area to establish a vibrant new identity for the regeneration of Canning Town and an iconic addition to East London's skyline.
Mayor of Newham, Sir Robin Wales said: "This is a major step forward in the regeneration of Canning Town. It's a positive move towards shaping the local vision for the area. One of the council's priorities in supporting regeneration is to improve facilities for existing businesses and to create thriving town centres. This is an exciting and ambitious project giving the local community the full range of facilities right on their doorstep.
"Redevelopment of the Rathbone site will reinforce the existing market space. The scheme will offer high quality open spaces for the public, provide greater residential and commercial space and improve access to the A13 and other transport links. The plans will radically transform the area into a thriving place of choice for existing and new residents and businesses.
"The ongoing success of the Good Friday market is a great example of how a community benefits from a flourishing market area with all the energy of local business has to offer. We look forward to seeing the Canning Town and Custom House area continuing to benefit from these projects."
ECf's Projects Director, Howard Morris, welcomed the final approval:
"Canning Town has incredible potential as a thriving, vibrant centre in London. The transport links are unrivalled and the area will soon have the homes, the shops and the facilities to match.
"Now, with the full backing of the GLA, the LTDGC, Newham Council and the local community, we can be ready to drive this hugely important project forward.
"Our plans will help revitalise the centre of Canning Town and give Rathbone Market the chance to grow and compete as a successful market attraction in London all year round."
