Boris Johnson has given the go ahead to regenerate the famous Spitalfields Market in East London, paving the way for a large scale office development and the possibility of generating thousands of new jobs.
Focused on part of the area occupied by the London Fruit and Wool Exchange, the development would retain the historic façade but generate 38,000 sq. ft. of office space and just over 3,000 sq. ft. of retail space.
Despite having previously been rejected by the local council, reports suggest that Boris Johnson overruled the original objection as he believes the scheme had an important role to play in helping to bring prosperity to the area.
Drawing on the sites history as an economic Centre, Boris Johnson stated:
“The historic London Fruit and Wool Exchange, in the heart of London’s East End, is a former commercial epicentre to which producers and buyers flocked from miles around to do business,” Boris said.
“These plans will not only restore the façade to its former glory, but regenerate the Spitalfields area with thousands of new jobs, and brand new commercial opportunities. It will also make a vital contribution to the wider London economy and have a significant impact not just on Tower Hamlets but on surrounding boroughs as well.
“I can find no reason to refuse permission and am of the firm view that this ambitious and important redevelopment should go ahead.”