Our client Vastint UK has secured dual use consent for two new office buildings within its 26-acre mixed-use neighbourhood, Sugar House Island, in Stratford.
The dual use approval allows higher education providers as well as commercial businesses to operate from the buildings, and reflects the growing demand for space in Stratford amongst the education sector. Education accounts 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, the developer behind Sugar House Island, said, “Sugar House Island is a 15-year masterplan 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 announcement was featured in EG, React News and CoStar.
