Developer U+I is planning blocks of up to 13 storeys and 500 new homes on the old Siemens cable factory site next to the Thames Barrier.
The Faraday Works project, on the Charlton-Woolwich border, promises 8,000 square metres of employment space, with 40% at discounted rents to keep businesses in the area.
The scheme, the latest to come forward for the Charlton riverside, includes transforming a crumbling former wire workshop on Bowater Road – the street recently opened up as part of the Thames Path “missing link” – into an “exciting new co-working space promoting and helping young and emerging businesses in the area”.
But U+I has confirmed plans to demolish another heritage block, the 1911 Faraday building, which it plans to replace with a similarly-designed block – although 13 storeys high – containing new housing, with a courtyard garden in front of it. It says the building is in poor condition with damage to windows and concrete.
The developer says it wants 35% of the homes to be “affordable”, with a priority for housing at social rent (usually half of market rents).
It says the Wire Workshop element of the scheme will create 460 jobs, and will be similar to The Old Vinyl Factory in Hayes, west London, which was built out of the former EMI record-pressing plant.
The scheme also plans to keep light industry on site, with the Telegraph Works building extended to accommodate industry downstairs and homes above.
U+I revealed the scheme at a public consultation last week, and the exhibition boards can now been seen on its website, faradayworks.com, where it is also asking for public comments on its ideas.
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