Lovells advised Ballymore Properties Limited on two major redevelopment schemes in the London Borough of Tower Hamlets’ Millennium Quarter. These were the first agreements to be granted under the council’s Millennium Quarter Masterplan. The Millennium Quarter is an area of 50 acres to the east of Canary Wharf which Tower Hamlets has allocated for significant development and regeneration.
Ballymore has been granted permission to build two 25-storey mixed use schemes at Arrowhead Quay and One Millharbour, both comprising office, retail, leisure and associated uses totalling over 1.25 million square feet of development.
Ballymore is the first of the various Millennium Quarter developers to secure planning permissions. The permissions were triggered by the completion of two Section 106 Agreements, securing various planning benefits, which Lovells had been negotiating with the Borough for two and a half years. The benefits include significant financial contributions to deliver the infrastructure which will facilitate the development of the Masterplan for the Millennium Quarter.
Michael Gallimore (partner) and Claire Dutch of Lovells’ planning team advised on the projects, which are two of a number of development schemes on which Lovells is advising Ballymore.
John Turner, Head of Planning at Ballymore, commented:
“We are delighted that, following lengthy discussions with Tower Hamlets, these complex Section 106 Agreements have been completed and that we are the first of the developers to secure planning permission in the Millennium Quarter. Lovells have driven the negotiations forward to a successful conclusion – we have been very pleased with their approach based on finding solutions to the issues which have arisen.”
The London Borough of Tower Hamlets was advised by Jocelyn Denton of Rollits.