September 21 2014 Latest news:

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 18°C

min temp: 11°C

Five-day forecast

Super-rich properties will kill Tech City say Shoreditch entrepreneurs

Aerial view of proposed Bishopsgate development Aerial view of proposed Bishopsgate development

Tuesday, August 26, 2014
12:35 PM

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.

To send a link to this page to a friend, you must be logged in.

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.”

Share this article

0 comments

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.

Forgotten your password?

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

   Local advertisers

More News articles

Click here to read the Digital Edition of the Islington Gazette on screen
Use our Wedding site to help you plan your big day!
At WeddingSite we know how much you have to organise for your wedding day, that's why we have designed a set of FREE, simple-to-use tools to make the planning process easy & hassle-free. FIND OUT MORE
Find a date using our online dating and friend finder
You can meet new friends, find romance or simply meet up online with people sharing similar interests and hobbies. FIND OUT MORE
Find a local business using our online directory search
Need a plumber? Or a florist? Or anything else? Search our business directory to find Islington businesses in just a few seconds. FIND OUT MORE
Family notices from the Islington Gazette, with readers' tributes
In memoriam, birthdays, weddings, anniversaries, best wishes & special days. FIND OUT MORE

Around the Web See all