Barking Riverside

The Thames Estuary Corridor offers a unique opportunity – and the global river is set to support unprecedented growth over the coming years, generating an additional £190bn GVA and 1.3m new jobs by 2050. It’s set to see regions transformed, and one of those is the London Borough of Barking and Dagenham. Ahead of their involvement in this years Thames Estuary Development Conference we hear from Chris Naylor, Chief Executive of the Borough:

 
As the capital expands ever eastwards the Borough of Barking and Dagenham is increasingly the focus of attention for potential development. The scale of transformational opportunities in the region is huge with more than 400-hectares of land available for development. Give us an overview of your plans and vision for the borough…

Our regeneration plans are rooted back in the final report of our independent Growth Commission in 2016 which highlighted the untapped growth potential of Barking and Dagenham. This set out the opportunities to be grasped by fully tapping into our borough’s potential, given the availability of relatively affordable land and our connectivity to central London. Since then we have set up Be First, as the council’s wholly owned regeneration company to accelerate the pace and scale of growth in the borough. Our vision is to build 50,000 new homes and create 20,000 new jobs over the next 20 years, becoming the engine for London’s economy and the home to working Londoners – all while cherishing the unique history and character of this part of East London.

 

The plans focus on seven growth hubs, what and where are these?

The development of new homes and jobs is set to take place right across the borough. However, activity will be focused in a number of key areas, in particular around key transport hubs and where land has been poorly used or underused for some time. This includes major plans for growth and regeneration across Barking Town Centre, down the River Roding, Castle Green, Dagenham East and Barking Riverside to name just some of those key locations. We’ll share more details about these at the Thames Estuary Development Conference.

 

Why is Barking and Dagenham an attractive location for developers and investors?

Barking and Dagenham is attracting investors – including from across the globe – due to the opportunity our borough presents to benefit from the shift in economic activity and opportunity towards East London. Our borough is fantastically positioned just 25 minutes from central London, close to the M25 and City Airport, with Crossrail due to come to the borough in the next 12 months. We also have 400 hectares of developable land at prices which are relatively affordable compared to the rest of London. The changes we have made at the council over the last four years – not least through the creation of Be First – mean that we are a borough that is geared up and ready to work with investors and developers who share our vision and values.

 

One of the most impressive schemes planned in the area is the Barking Riverside project – with outline planning approval for 10,800 homes together with schools, open space and community facilities. Tell us a little more about the scheme…

Barking Riverside is the largest single development project in London, set to establish a ‘healthy new town’ on the Thames in stages over the next decade. It is a hugely ambitious project which will deliver massively needed homes for Londoners, with at least 50% of the new homes classified as affordable. The pace of the project has really stepped up over the last 12 months with a significant number of new homes built. Over the coming months work will start on the London Overground extension which will see a new station open in Barking Riverside in 2021. We’ll also see progress on a new health, leisure and community facility – as well as a range of green and other open spaces.

 

All of these homes are being created, but obviously new jobs will need to be created to ensure a large take-up of people moving and living in Barking and Dagenham. How is the region planning to deliver huge a large increase in job opportunities in the area?

Supporting new industries and new jobs is a fundamental part of our aspiration to drive inclusive growth in Barking and Dagenham. To take just one example, we are on track to bring a new film studio and data centre to Dagenham East, which will bring thousands of new jobs to the borough – and provide an inspiration to young people growing up in Barking and Dagenham. More broadly, we have plans to make far better use of our industrial land, to drive the shift from the dirty industries of the 20th century to the clean, green industries of the 21st century. We also want to build on Barking and Dagenham’s proud history of small business, by providing affordable workspace, as well as making our borough a home for a new generation of creative and cultural industries. For instance, we are building live-work space for artists in Barking town centre; offering affordable homes for London’s creatives who will also give back to the community in return.

 

Building homes is one thing but ensuring they’re integrated into existing communities and creating new neighbourhoods is another. What will the criteria be for new homes being built in the borough?

We are building homes for local people – and Londoners – on a range of income levels, both for affordable rent and shared ownership. By 2023 our local housing company Reside will be offering over 3,000 homes, starting at prices for those earning London Living Wage. Put simply, we want Barking and Dagenham to be a place for London’s aspirational working-class. Crucial to our strategy is knitting together new and exiting neighbourhoods, while ensuring that we provide the social physical infrastructure which is essential for shaping great places and sustainable communities.

 

The use of modular builds is becoming more and more popular – with some hailing this as a potentially cheaper and quicker way to accelerate the delivery of housing, whilst ensuring higher quality of build. Is modular and offsite construction something the borough is looking into?

Yes – we are progressing a number of new developments using modular construction, in particular for new temporary accommodation sites. These will provide badly needed homes for local homeless households, quickly and at lower costs than via traditional development models.

 

Though house prices are rising much faster than the average for London, Barking and Dagenham remains the cheapest borough in the capital. Why is that, and does it represent a good investment opportunity to purchase in the region?

Land and property prices are lower in Barking and Dagenham than the rest of London, but there are huge investment opportunities given our growth potential. We are confident we can capitalise on this potential to bring new jobs and new homes to the borough, while also ensuring that our borough remains affordable to ordinary Londoners, by pursuing regeneration on our terms and according to our values.

 

The Thames Estuary Development Conference is set to bring together senior leaders from the public and private sector to highlight the phenomenal opportunities for growth across the Thames Estuary corridor, and to encourage collaborative working to increase investment and development within the region. Why is the event an important date in the industry calendar?

The Thames estuary is the nation’s growth opportunity – a corridor of massive economic potential to take advantage of unrivalled connectivity and land for development. Barking and Dagenham is committed to working with central government, the GLA and other councils up and down the estuary to create a shared long-term vision and strategy to grasp this opportunity. The Thames Estuary Development Conference is an important milestone on that journey.