By Ben Simmons
The Mayor of London, Boris Johnson, has today published his final vision for the next major area for development in central London as part of his drive to attract investment into the capital to create jobs, prosperity and growth.
The Mayor’s new planning framework confirms that the area covering Vauxhall, Nine Elms and Battersea will be transformed into a brand new district for the capital, with potential for 16,000 new homes and up to 25,000 new jobs. Crucially the extension of the Northern Line to Battersea, a commitment secured in the Chancellor’s 2011 Autumn Statement, can now be funded via a levy on developments approved through the planning system expected to raise more than £500m towards its construction.
This comes as the Mayor has put Beam Park, one of the largest brownfield sites in east London, on the market for redevelopment. Currently owned by the Mayor's London Development Agency the 70 acre site, formerly part of the Ford Motor company, has enormous potential to regenerate this part of the city. The Mayor is working with the London Boroughs of Barking & Dagenham and Havering to ensure that Beam Park's full potential is realised and that new job creation is maximised through its development.
The Mayor of London Boris Johnson said:
“These two prime locations have the potential for great returns for investors as well as supporting thousands of jobs and driving growth across the capital.
“We have already seen how major investment in our infrastructure from the 2012 Games has transformed east London and is already attracting great interest from investors from around the world. There is every reason to believe that we can replicate that level of success on both the Vauxhall, Nine Elms and Battersea and Beam Park sites.”