Designed by architects Studio Egret West, the scheme includes creating modern retail, restaurant and leisure space on the Vicarage Field Shopping Centre site in Barking.
The project, which has been developed by Benson Elliot and Londonewcastle, involves redeveloping the existing shopping centre and adjoining buildings, as well as creating 850 new homes, a three-form entry primary school, a new cinema and 300-capacity music venue, a 150-room hotel, enterprise space for start-up businesses, healthcare facilities and extensive public realm/green space. Up to 1,000 new jobs will be created by the development.
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Peter Cornforth, Director of Retail at Benson Elliot, said: "This is an exciting milestone for our redevelopment plans, which we believe will support the creation of a vibrant town centre in Barking.
"Our proposals support the Borough's vision for new homes and the Barking town centre Housing Zone as well as local economic growth for the benefit of everyone."
Mark Bass, President of the Barking & Dagenham Chamber of Commerce, added: "The redevelopment of the Vicarage Field site offers a fantastic opportunity to encourage more growth and investment in the town centre. New retail and leisure opportunities will provide new jobs, greater choice for local residents and attract more visitors to Barking, helping to invigorate the local economy and enhance the economic success of local businesses."
(LM/CD)
