Lend Lease to build Stratford City Stage Two
Published: 06 April, 2010
A new agreement between Lend Lease and landowner London & Continental Railways has cleared the way for a substantial mixed-use scheme alongside the Olympic site in Stratford, east London, which could include as much as 400,000 sq ft of new retail.
The agreement covers 130 acres of land which will form Stage 2 of the Stratford City site. It can accommodate more than 1m sq ft of offices, 1,500 new homes and 400,000 sq ft of retail and leisure space. Rival Australian developer Westfield is already developing the first phase of Stratford City with two million sq ft of retail and leisure.
In a statement Lend Lease Europe said it has concluded negotiations with London Continental Railways for the regeneration of LCR’s landholdings at the Stratford City site in east London. “These landholdings are adjacent to the Athletes' Village site where Lend Lease is providing development, project and construction management services to the Olympic Delivery Authority,” it explained.
“The Conditional Framework Agreement will provide for the establishment of a 50/50 joint venture company between LCR and Lend Lease and the appointment of Lend Lease as development manager by the joint venture company, subject to various conditions.”
