St Modwen has withdrawn its £100 million investment proposal for the redevelopment of Queen’s Market, London
With the developer unable to reach an agreement with the Newham Council, PRP’s controversial plans for Queen’s Market in Upton Hall have now effectively been scrapped.
Revised plans, along with a request for a time extension to deliver the proposals, were presented to the Council’s officers for consideration last year (2009).
St Modwen’s original proposal for the site was opposed by Mayor London, Boris Johnson who criticised a 31-storey tower forming part of the extensive regeneration plans which also included 350 new homes and a library.
Tim Seddon, London regional director at St. Modwen said: ‘After five years of working in partnership and significant capital investment, it has not proved possible to reach agreement with Newham Council on how to progress our revised proposals.
He continued: ‘Last year, St. Modwen put forward a proposition that would have ensured that the redevelopment of Queens Market could be delivered when economic conditions improved. It was in line with the scheme consented by Newham’s elected members at its planning committee last May. However, without agreement on the fundamentals of design, approach and timing, the sensible course of action now for us is to reluctantly, withdraw.’
‘Queens Market is a wonderful place but it is crying out for regeneration.’