We are delighted to reveal that two of the three new commercial buildings at Chimney Walk have been granted dual use consent. The dual use approval allows higher education providers as well as commercial businesses to operate from the two buildings, which contain a combined total of 126,000 sq ft of floor space.
The planning consent reflects the growing demand for space in Stratford amongst the education sector, with education accounting for 69% of the total take-up of space in the area last year, up from 21% in 2021*. This is expected to accelerate further in 2024, fuelled by the recent opening of UCL East at the nearby East Bank development.
Michael Cronin, Head of Portfolio at Vastint UK, said, “Sugar House Island is a 15-year project for Vastint. Given the length of the development programme, having dual use consent on two of our largest office buildings in the neighbourhood means we can allow for the flexibility required to respond to market demands and the needs of the businesses within our community. Moreover, an integrated education and business community grants the influx of innovative and creative industries coming to Stratford access to their target talent pool.”
The Two buildings, ‘The Ink House’ and ‘Colour Works’, are located within Chimney Walk, Sugar House Islands fourth and latest phase of development, which reached Practical Completion this February.
Chimney Walk comprises 220,000 sq ft of education and office commercial space, 23,000 sq ft of retail and leisure space for independent brands. The pedestrianised public realm will act as a stage for the growth of the Island’s already popular events programme, which features food pop ups, comedy nights, music events and more.
*Savills Spotlight: The growth of the education sector in London and South East office market, May 2023