Think you know Stratford? Think again
When was the last time you went to Stratford E15? If you reckon it was for the London Olympics, I have to tell you that was now over a decade ago! So, has much changed since then? Well, yes, a huge amount actually. The last decade has seen an incredible transformation of an area previously on the periphery of the capital. I’d argue that what is most incredible is that despite the scale of change in and around Stratford, much has gone relatively unnoticed by some in the media and indeed the property industry.
Credit must go to the London Legacy Development Corporation (LLDC), which was responsible for the redevelopment of much of the real estate that had originally been provided for the London 2012 games.
Many of the people I speak to who haven’t been there recently are under the impression that Westfield Stratford is the be all and end all of the area. While the shopping and leisure giant, with a whopping annual footfall of over 51 million, has unquestionably put Stratford on the map as a major destination, there is so much more to what is effectively London’s newest neighbourhood.
I believe the arrival of high profile tenants (more are moving in this year and next – see below) will help to change perceptions. A lot of credit must go to the London Legacy Development Corporation (LLDC), which was responsible for the redevelopment of much of the real estate that had originally been provided for the London 2012 games. The creation of around 3,000 homes was matched by a concerted effort to reuse and develop new commercial buildings (around 2.5 million sq ft of offices are now in occupation, with a further 1.2 million sq ft planned), forming a truly mixed use environment and ready-made sub-quarters such as HereEast. The availability of a huge amount of high quality outdoor space, in the shape of Queen Elizabeth Olympic Park has certainly helped – as we’ve noted in previous Perspectives, green spaces are crucial for long-term sustainable development.
What has really helped Stratford evolve is its transport connections. Unlike rival Canary Wharf, which required a modern metro system (the Docklands Light Railway) to be built from scratch, much of Stratford’s transport infrastucture was already in place. All credit to Transport for London for joining the dots to create an epically modern transport hub (which pre-Covid clocked over 128 million passengers a year). Long gone are the days when Stratford was a distant outpost on the way out of Liverpool Street. Now DLR connections to London City Airport and super fast links to central London via HS1 head a long list of travel possibilities. (P-THREE has previously highlighted the importance and potential of well-integrated transport hubs for commercial property).
The combined and sustained investment in real estate and transport infrastructure has unquestionably paid dividends. Occupiers, from a diverse range of backgrounds, from education through to the arts, are now putting E15 on their shortlists when not so long ago the location wouldn’t have made the cut as “there isn’t much else there”.
Later this year international ballet institution Sadler’s Wells will open an additional London base, branded Sadler’s Wells East. It follows hot on the heels of the newly opened London College of Fashion, part of the University of the Arts London, which pulled six teaching locations across the capital together into a single campus at Stratford, and a new campus for UCL, some of which is still under construction. Students enrolled in Stratford-based establishments are expected to top 10,000 in the next year or so, adding a significant strand to the area’s population mix, and are likely to reach 16,000 when all campus buildings are complete.
Looking further ahead, to next year, further keystone occupiers are expected to move into East Bank, a new waterside cultural area. They include BBC Music and V&A East and the creation of a cultural sub-quarter here will bring in exciting new dining and leisure operators – an Everyman cinema will shortly open, helping to stimulate the local night-time economy.
From a visual perspective, one of the things that already makes Stratford stand out from other London locations is the number of what I refer to as essential buildings. These are properties that are distinctive because they convey the essence of the organisation occupying them, rather than simply demonstrating an architectural virtuosity that is detached from the people who will live in, work in and visit these buildings.
What is particularly exciting about the renewal taking place in Stratford is that it includes the original parts of the London borough of Newham. The local authority has an impressive vision that seeks to unite older and newer parts of Stratford as a single entity. New F&B operations are opening regularly - just look at the 40,000+ sq ft letting to Peppermint - and historic buildings, such as the former Rex cinema on Stratford High Street can expect to see a new lease of life as music venues and other cultural operators are drawn to the area by its diverse and growing population. Meanwhile uses (like the brilliant ABBA Voyage theatre – P-THREE couldn’t resist some merchandise from here!) are playing their part in bringing animation and vibrancy and I expect to see more of these.
If you haven’t been to E15 for a while (don’t worry, we have a ‘no name and shame’ policy!) I recommend a visit and I’m sure you’ll be blown away by the dynamism and vibrancy of a part of London that is very clearly on the up. You might even wonder how you didn’t get here before. No matter, but I think all of us who know the area as it is now will be keen to spread the word.
Article by Thomas Rose
