Carpenters Estate opportunity opens up for developers
by Jim Dunton Wed 8th May 2013, 12:35 pm
Newham Council is pushing forward discussions with developers over the regeneration of Stratford's Carpenters Estate, it said this week.
A statement from the council said it was still committed to the redevelopment of the estate after the collapse of a deal which would have seen University College London build a new academic centre on the site.
The withdrawal now opens the way to other developers who interested in taking on the site.
A council statement said: “A number of parties have expressed an interest in working with Newham Council to help regenerate the Carpenters Estate. These were not pursued while UCL and Newham Council were in exclusive negotiations. We will now reopen discussions with those and other interested parties."
And UCL said it was still committed to developing a new campus at an alternative location in Stratford.
President and provost, Malcolm Grant, said UCL was “confident of the benefits a presence in Stratford” and would “continue to work closely with Newham Council and other stakeholders to make this ambitious project happen.”
An exclusivity deal over the site was signed by UCL and the council in November 2011, with commercial negotiations starting last October.
However, this week Newham said that following “intensive and lengthy analysis” both parties were “unable to agree commercial terms".