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Developing East Bank, London’s new cultural and education district

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  • United Kingdom

    11-01-2019

    Eversheds Sutherland supports on latest element of this major redevelopment scheme with new studios for the BBC

    Eversheds Sutherland has advised London Legacy Development Corporation (LLDC) on the latest developments in Stratford’s East Bank, a new cultural and education district.

    The latest East Bank development marks the culmination of several years’ work by the LLDC to secure long-term, viable facilities in and around Queen Elizabeth Olympic Park, East London. Eversheds Sutherland also advised LLDC in June 2018 on sites for the V&A, University of the Arts London (UAL), and University College London (UCL).

    Agreements were exchanged between LLDC and the BBC on 27 December 2018 for the development of a new studio building which will house the BBC Symphony Orchestra & Chorus, BBC Singers, and BBC Concert Orchestra. Eversheds Sutherland supported the successful completion of the property, construction and development contracts, working with the LLDC and Transport for London Legal.

    The Eversheds Sutherland team advising LLDC on the BBC project was led by Ian Barker working alongside Hugo Jay, Senior Associate, and Ezra Mackenzie, Associate. Construction advice was provided by Tom Douglas, Principal Associate, and banking advice by Ben Moylan, Partner.

    Alongside the BBC studios, the East Bank scheme will comprise of:

    • Two sites for the V&A, including a new museum at Stratford Waterfront with a pioneering partnership with the Smithsonian Institution, and a collection and research centre at Here East

    • a 550-seat theatre with six studios and support facilities for research, development and production of new work for Sadler’s Wells,

    • a new campus for UAL’s London College of Fashion

    • UCL will create UCL East – a new multi-disciplinary campus for 4,000 students

    Ian Barker, Real Estate Partner, commented: “The redevelopment of East London, led by the LLDC, will provide a new cultural hub to the two million people now living in the area. They are building new neighbourhoods, business centres and cultural spaces, helping to transform the region into a major destination for culture, sport, local business and education.”

    Under present plans building work is due to start on the site in mid-2019, with building openings scheduled for 2022/23.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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