Ballymore cleared to build Docklands schemes
DEVELOPER Ballymore has received planning permission for two major Docklands projects.
A twisting tower on the site of the old London Arena and a project including two and a half thousand residential units in Royal Docks have both been approved by councillors.
The London Arena project, dubbed Baltimore Wharf is a 45-storey building containing 1,111 residential units.
Alongside the homes in the tower will be a 19-floor hotel comprising 143 rooms and 105 serviced apartments.
Shops and restaurants will be based on the ground floor of the London Arena site, which was once a venue for concerts by artists such as Pink Floyd and Robbie Williams.
Ballymore also received planning permission from Newham council and the Thames Gateway Development Corporation to build Minoco Wharf at Silvertown, near London City Airport.
As well as 2,598 residential units, the development will include 26,000sq metres of shops and community and leisure facilities.
It will also include the first marina and river dock to be built on the Thames for 50 years.
David Brophy, Ballymore’s chief executive said: “We are delighted to have achieved these significant planning permissions.
“We have spent more than 20 years in the area from the City to City Airport and it has become universally accepted that East London is in a unique situation, economically.
“London will continue to expand eastwards and Ballymore will be at the heart of this.
“We have large and significant developments completed or in final stages of the planning process right along the river.�
The company is also behind the huge Pan Peninsula towers in Canary Wharf which are due for completion in summer 2009. The developer is also heavily involved in the redevelopment of Wood Wharf.
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I don't get it.
Ballymore are showing themselves to be rogues when it comes to Pan Peninsula, yet the council has approved two new sites in the Docklands?
Do the councillors know what is going on? Are they living in the real world? Do they know how bad Ballymore are being with existing purchasers and what major debts Ballymore have with Anglo Irish Bank that they are finding extremely difficult to pay off?
Why are the council doing this? Are they somehow financially involved with Ballymore?
Ballymore even have the audacity to complain about Pan Peninsula values going down due to the issues being made public, yet it is themselves that are devaluing Pan Peninsula by taking their harsh stance and building more developments even though they have no sales. A glut of empty properties will abound and the down valuations are only their own fault.
I please the council to wake up and take necessary action. If it is found that the council are involved with Ballymore then there must be a vote of no confidence in them and they must be replaced.
hahahahaha....
above - you need to wake up and smell the coffee!
Ballymore 1 - Self pitying investors 0
Some Pan Peninsula investors own several properties and are still expecting people to feel sorry for them? Sell some of your other properties if you are so hard up! While Ballymore could be more flexible, they have absolutely no obligation to renegotiate a signed contract. Whining in the press will only further reduce the value of their investment.
Now some investors also want Ballymore to stop building more houses in London? Sounds ridiculous to me, and no I don't have any affiliation to anyone in this story.
i love it!!!!!!