Ikea to Assemble Flat Pack City
Flatpack furniture specialist Ikea has revealed plans for its first British housing development, claiming it has ‘billions’ to invest into the UKΓÇÖs property development market.
The proposal will see the construction of 1,200 eco-friendly homes, in addition to retail, hotel and office space, with Ikea claiming it will create a ‘mini-venice’ located in Stratford, adjacent to the Olympic Park.
The whole site, labelled the ‘Strand East’ project, will be connected via pedestrainised walkways with water taxis and moorings being utilised for transport. Cars will be parked underground, with amenities such as a school, health surgery and nursery all within walking distance. Keen to emphasise the environmental benefits of the site, in addition to the reduction in transport needs, a water power plant will contribute to the sites energy requirements whilst suction tunnels will remove rubbish.
LandProp, Ikea’s development arm will be carrying out their first major project in the UK with Managing Director Harald Muller describing the 26 acre site as “the newest and most interesting development in the whole area.”
London Mayor Boris Johnson added, “this is yet another great example of the 2012 legacy rippling out of the Olympic Park and across east London.”
Ikea, which began back in Sweden in 1953, now has more than 300 stores worldwide, and is investing profits from its retail enterprises into property related developments with Harald Mueller advising that LandProp “are continuing to look for other opportunities within London and the U.K.”
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