Latest News - August 2020
Welcome to the latest edition of the Chrisp Street News which is a little overdue because of the exceptional circumstances that we’ve all been enduring over the last few months.
This newsletter is now going online to enable as many people as possible to access it. However we do understand that not everyone will have access to the internet so if you know someone who would like a hard copy please contact us and we will ensure we make it available.
Coronavirus – staying safe in Chrisp St
Although most shops and stalls have reopened and are trading once again, we still all need to stay alert and be aware of our surroundings, continuing to social distance and following the Government guidelines.
You will notice new signs around the Centre reminding shoppers to keep the 2m wherever possible, each of the shops have implemented their own regime and so you may find slight differences as you shop in around Chrisp Street. Please respect the measures that retailers have put in place they are doing it to keep us all safe and avoid a second spike of infection. And don’t forget the new guideline to wear a face covering when visiting your favourite shops.
The good news is that footfall in the Centre has increased significantly over the past couple of weeks and it is now over 80% of what it was this time last year. This is significantly better than many other High Streets around the country.
Development Update – the latest news on the regeneration
The coronavirus has had an impact on every aspect of our lives and the construction industry is no exception. Many building sites were closed and staff either furloughed or moved around to ensure safe working. You won’t be surprised that this has had a knock-on effect to the regeneration plans for Chrisp Street.
While little has changed in the design of the new Chrisp Street, the situation has put the start date back by at least three or four months, realistically work is not expected to start until the middle of next year (2021).
However even in this climate things have been happening behind the scenes. Although lots of people were furloughed or moved, many also learned the new art of working from home. Meetings and negotiations continued to take place through virtual means like Zoom, Skype or MS Teams and of course the good old-fashioned telephone, albeit mobile!
These meetings have, and continue to be, taking place between all interested parties including TH Council, Poplar HARCA and Telford Homes along with their various legal representatives and consultants. As a result the parties have reached a major milestone in the progression towards a new Chrisp Street that will retain the character and all that is good in the ‘Peoples Market’.
An agreement has been reached that allows the Council to make an order known as a section 203. The s203 allows the variation of access right to properties within the scheme. Most retailers have already agreed to the terms for this and had their leases adjusted to allow for it.
Practically what it means is that when access to service roads or shops or residential entrances are changed or restricted due to construction those adversely affected may be able to claim compensation rather than having to get an injunction to stop the work which would cause delay to the project.
As part of this agreement Poplar HARCA has transferred its land holding in Chrisp Street to Chrisp Street Developments Ltd. CSDL is a wholly owned subsidiary of Telford Homes Ltd. The transfer took place on 7 July making CSDL the new landlord for the commercial element of the Center. The managing agent, Knight Frank, remain in situ and will continue to manage the commercial estate.
Poplar HARCA will continue to manage the residential properties with residents continuing to report any issues in the same way as they have always done.
With the scheme being delayed there may be opportunities for enterprising people to explore and test their retail and business ideas. It is likely that there will be some temporary retail space that can be let on a pop-up basis. These spaces would be short term lets with no long-term security of tenure, but will have favourable rental rates.
If you have an idea that you would like to test or want to rent a retail space for a short time please get in touch. We will require a short business plan outlining your ideas and how you propose to finance your project, remembering that we will prioritise retail ideas that do not directly compete with existing businesses within Chrisp Street Market.
Don’t forget though, a market stall is a fantastic way to test new retail ideas. Chrisp Street has a great market that operates six days a week. The market is owned and operated by Tower Hamlets Council, if this is something you’d like to consider you can contact the Markets Department using the contact details below.
If you have specific questions relating to your circumstances you can contact a member of the team on our contacts page where there is a brief description of each person's role which will help you to get to the right person first time.
For the latest news about the exciting regeneration activity taking place at Chrisp Street view our newsletter here