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 News Stories

09:00
Punters bemused passers by with their rain-soaked barbeque outside the pub - but it was all in the name of their campaign

Elderly punters have seen their social lives disappear since a popular watering hole was sold and closed one year ago.

Yesterday, 15:04
The fancy dress dodgeball competition is set to come to Finsbury Park next weekend.

The UK’s biggest fancy dress dodgeball festival will arrive in Finsbury Park for the first time next weekend.

Yesterday, 15:03
Jeremy Corbyn.

A disposable coffee cup used by Jeremy Corbyn as sold in an online auction for £51.

Yesterday, 13:00
There will be no steins in Caledonian Park next month

Oktoberfest is not coming to Islington.

Most read news

Competitions

Shop till you drop!

Home to top name brands at great prices, TK Maxx is more like a treasure hunt than a shop. Perfect for grabbing a bargain or some hidden gems, you arm yourself with a trolley and go wild.

Scones, jam and a cup of Earl Grey anyone?

Luxury boutique hotel Flemings Mayfair has recently launched The Drawing Room, London’s most stylish location for afternoon tea.

Digital Edition

Image
Read the Islington Gazette e-edition today E-edition
Family Notices 24


Our trusted business finder