Member Article

Blossom Street development will secure 2,650 jobs

The historic Blossom Street district is set to help the capital’s growth in SME space, offices and retail over the next four years – and will become a key part of the economic success story of inner London says the long-term supporter of its regeneration, the City of London Corporation.

A regeneration of key streets north of Liverpool St will soon be a part of the burgeoning ‘Tech City’ and has been specially curated to mix the best of the old with the new, delivering 85% of the SME space needed by this fast-growing area by 2019.

Speaking after a meeting with stakeholders who have taken an active and welcome interest in the site, Alastair Moss said: “We are confident that this scheme will deliver the right jobs-space, independent retail and new residential stock that’s needed to this much-loved area – to provide just the boost that it needs.”

“Getting the right mix that secures 2,650 jobs in this important new work-district has taken a great deal of consideration and thought – and I am sure workers, residents and visitors will be enjoying this enlivened quarter right through the 21st century and beyond. The scheme takes the best of its proud economic and architectural history and gives it a future.”

Mr Moss, who is the elected Chairman of the City’s Property Investment Board said that in addition to start-up and SME space, the rest of the scheme comprises a high proportion of “grow-on” and flexible space targeted at growing businesses which have graduated from smaller start-up and SME space – a key objective of the GLA for the City Fringe.

Blossom Street will bring to this area of Tower Hamlets an estimated £6.1m a year in local spending by new residents and workers, together with the positive social and economic effects of the presence of the new businesses themselves.

Local programmes for procurement, education, and Tech City training partnerships are all part of the plans shortly before Tower Hamlets planners.

This was posted in Bdaily's Members' News section by Ellen Forster .