We expect works to begin in mid-2021
The scheme is broadly divided into two phases. Phase 1 will include works on the north side of the site, stretching from Cordelia Street to Market Square. Phase 2 will include the area from Market Square to East India Dock Road. Each phase is expected to take approximately three years, meaning an overall build time of six years and expected completion in 2027.
Tower Hamlets Council are in full support of the regeneration of Chrisp Street market, and the significant positive impact it will bring to the area, its residents and the wider borough. As such, in June 2020 the Council used its powers under Section 203 of the Housing and Planning Act 2016 to acquire the land at Chrisp Street for planning purposes, to enable works to start without the fear of hold-ups due to minor objections. All residents and traders directly affected were consulted by the Council’s Housing Regeneration Team regarding the acquisition.
What does the s.203 mean for me?
The s203 allows the variation of access rights to properties within the scheme. It means that when access to service roads or shop 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.
The council is using its powers to secure a CPO (compulsory purchase order) – which is expected to be made in October. All directly affected parties have been made aware of the CPO and the Council has invited affected residents and traders to meetings to ensure that they understand its implications and their rights under the law.
Below is a plan of the area that is covered by the CPO. Please note that not all properties within the red line will be purchased, e.g. there is no intention to purchase the Festival of Britain residential properties on Market Way, Market Square or Kerbey Street.
It has always been our aim to reach negotiated settlements with both traders and residents, and in the vast majority of cases this approach has proved very successful.
The following are examples of the letters commercial and residential tenants have received in recent months with regard to the CPO
CPO Letter 1