Mumbai-headquartered Essel Group recently began talks for a major investment into an East London development. The Millennium Mills site, put on the market in 2012 by the Greater London Authority, housed the Hovis flour mill and a Tate & Lyle sugar refinery.
The development would create a world-class visitor attraction, hotel and leisure complex celebrating India’s culture and history. The 62 acre site is based in east London’s Royal Docks area known as Silvertown Quays. Essel Group had planned to build 3,500 homes in this area as well as the Cultural Centre which would be a huge boost to the area.
Plans for the Silvertown redevelopment project have been halted
Recently, plans have been put on hold due to differences between the developer (TSP) and the previous owners. Essel Chairman, Subhash Chandra said he was surprised by the dispute. He claimed the decision was in the hands of the Greater London Authority. This development would be worth one billion pounds if given the go ahead. An opportunity that seems foolish to be missed.
However, Chandra remains hopeful the British government and Mayor of London will not allow this vital London investment to be rejected. One of the Mayor’s commitment is to ensure the redevelopment and regeneration of the Silvertown Quays so only time will tell.
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