An agreement to regenerate the site of the former London Fruit and Wool Exchange has been signed by the City of London Corporation and Exemplar Properties.
Described as one of the final elements in the regeneration of Spitalfields, a former parish in the Tower Hamlets, which features a number of historical landmarks, as well as a rich culture, this regeneration hopes to rejuvenate and popularise the area once more.
Bennetts Associates Architects have been appointed by Exemplar Properties to create plans for the project and a planning application is expected to be submitted in Q1 of 2011.
The new redevelopment is expected to bring over 320,000 sq ft of premium office space to the area and a number of new shops and attractions.
The regeneration of the Spitalfields area has been ongoing for the past decade and these plans have been in existence since the 1990s; however it has only recently reached the required amount of funding and planning.
Daniel Van Gelder, Director of Exemplar Properties, said, “The London Fruit and Wool Exchange is one of the final pieces in the regeneration of Spitalfields.”
He added, “Plans will now be developed in close consultation with the local community and other stakeholders to ensure the proposals fully respect their surroundings.”