Search

Super-rich properties will kill Tech City say Shoreditch entrepreneurs

12:35 26 August 2014

Aerial view of proposed Bishopsgate development

Aerial view of proposed Bishopsgate development

Archant

A “ghetto of super-rich and overseas investors” will be created if an £800million plan for 1,500 flats goes ahead, according to a Tech City petition.

Property giant Hammerson wants to turn the five-hectare former Bishopsgate Goods Yard off Shoreditch High Street into six towers, some up to 800ft tall.

The site has been derelict for 50 years after the rail terminal was destroyed by fire in 1964.

The new plans would also create about 60,000 square metres of commercial and retail space.

But entrepreneurs in Tech City oppose the plans, which they say would not only cast a shadow stretching as far as Old Street roundabout, but would also kill the growth of Europe’s largest tech start-up cluster.

Ben Southworth, co-founder of content, promotion and events company 3 Beards, who has set up the Tech City Says No campaign, said: “The flats would create a ghetto of the super-rich and overseas investors in Shoreditch with the flats selling for up to £1.5m and creating their own residential micro-economy.

“This is not what we want this area to become.”

Others who are supporting the campaign have said the area has already been losing valuable commercial space to luxury flats.

Jane Ni Daulchaointigh, inventor and CEO of Surgu, a flexible new material that sets to rubber overnight, said: “It took us ages to find the right kind of property and we’re so keen to hold on to it because our building used to be entirely commercial but now we’re the only business left.”

The proposals, which were submitted to both Hackney and Tower Hamlets councils in June, also face opposition from campaign group More Light More Power.

Lead activist David Donoghue stated that the plans would “turn our thriving Tech City into ghost city.”

Positives highlighted by Hammerson include the restoration of the Braithwaite Viaduct, one of the world’s oldest railway structures and a 2.4-acre park.

Hammerson’s chief executive David Atkins said: “Change is always going to attract people’s views – but we’re confident that once built it will be a positive addition to east London.”

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Islington Gazette visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Islington Gazette staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Islington Gazette account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Latest Islington News Stories

47 minutes ago

Islington’s archives team were all smiles after winning their bid to bring home a piece of the borough’s creative history.

17:35

Think you’ve had an interesting life? Meet Carlos Lopez-Barillas. He’s an award-winning Guatemalan war photographer, champion skateboarder and water polo player and runs his own newspaper. And comes from a family of political activists.

17:33

The Gazette hunts high and low each week to bring you news of the most interesting and unusual new businesses in Islington. This week we speak to the guys behind the borough’s first honey.

15:57

Drum’n’bass fans were left fuming after being refused entry to a Finsbury Park festival because they “turned up too late”.

14:16

Former health minister Aneurin Bevan, who had helped found the NHS eight years earlier, blasted the standard of council housing on a visit to Islington Central Library in Holloway Road.

12:52

Every week, we take to the streets to unearth something being manufactured right here in Islington. This week, we speak to cake baking business owner Cynthia Akinsanya, who has created a new range to celebrate Black History Month.

12:35

Islington Council is “not going to stand by” and wait for the transport industry to improve air quality.

Yesterday, 18:46

A cycle crash victim who struggles to walk has thanked cabbies for saving their life after they raised £3,000 for an electric wheelchair.

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now

Newsletter Sign Up

Most read news

Competitions

If you’re obsessed with Apple or just love a good gadget, this is a prize that will blow you away! An incredible £3,333 to spend on Apple goodies! How would you like to be the proud new owner of the Apple Watch?

As we grow older it becomes more and more important to have means to travel about safely and quickly. Our friendship groups and families grow and the need to have a car that is not only safe but also fast and big enough for all our needs is ever more important. There are many cars on the market for such needs but none deals with them as efficiently or as neatly as a VW Golf Estate. These cars are build strong, long lasting and spacious for a reason. They cater to the needs of many and are some of the most popular cars currently on the market.

Digital Edition

cover

Enjoy the
Islington Gazette
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now