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Essel Group announces major investment for an Indian leisure complex in London

Thursday, April 12, 2018, 11:06 Hrs  [IST]
HBI Staff|Mumbai

The Essel Group, owned by Indian industrialist Dr Subhash Chandra, has announced its plans for a major world class visitor attraction and hotel and leisure complex to celebrate India's culture and history at Silvertown district in London.

 As per a company release, they are in talks to take over the redevelopment of the entire 62-acre brownfield site in east London's Royal Docks. A proposal has been submitted to the Greater London Authority (GLA) to purchase the land from the current developers, The Silvertown Partnership, a consortium consisting of Chelsfield Properties, First Base and Macquarie Capital. 

Futuristic computer generated images released today by the Essel Group and HPW Architects show the multi-billion pound cultural centre that would sit on 14 acres at the heart of the Silvertown project under the proposal. Its architects say the centre will provide a 'cultural landmark' for London which will 'defy traditional tall build typologies' and transform the City skyline. Spanning 2.5 million square feet, the centre would include museums and a theatre, retail outlets, restaurants, a botanical garden and a luxury hotel. The project could deliver 5,000 jobs in the East End and provide a huge boost to the economy, said the Mumbai-based Essel Group. 

The £3.5bn Silvertown redevelopment, which is already underway, will transform a former industrial area in Newham between Canary Wharf and London City airport, and create more than 3,000 homes, including affordable housing. The proposed purchase includes Millennium Mills, a 20th century former flour mill.

 A spokesperson for the Essel Group Parul Goel, said: "London remains the beating heart of Europe, and the Essel Group is committed to making a huge investment into London to complete the transformation of this part of the city, offering a sustainable and eco-friendly development that meets the requirements of the current planning permission and ensuring this project moves quickly."

 "The Essel Group and our design team have been in detailed discussions with The Silvertown Partnership for many months, all of which has been hugely productive and our proposal has the full support and trust of The Silvertown Partnership. With Brexit looming, this kind of investment into the UK represents a massive coup for the GLA and the London Mayor Sadiq Khan. The cultural centre will be like no other in the world, and we aim to put this part of London back on the map."  

If the plans are approved, the Essel Group's proposed development of Silvertown could see the cultural centre open by 2023, subject to approval by the GLA. A decision is expected this month. Essel will work in partnership with HPW Architects who will lead on design, and Mace, the international construction company behind The Shard.

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