Last month saw the completion of the construction phase of one of the UK’s largest regeneration schemes, east London’s £1.45 billion Westfield Stratford City. On a recent tour of the shopping centre’s John Lewis anchor store, managing director Noel Saunders was surprisingly candid about his company’s goals: “We’re retailers, and we’re a business and we’re here to make money,” he said.
Yet Saunders is well aware that London Borough of Newham mayor Sir Robin Wales will do his upmost not to allow the development, which sits on the edge of the Olympic Park, to become just another concrete shrine to consumerism - even one that includes a 6,000sq metre casino and a 14-screen all-digital cinema. Wales wants jobs, and last month said the Government was “walking away” from its legacy goals on boosting local employment.
'We are a local shop, and with that will be local jobs'
Noel Saunders, managing director of Westfield Stratford City's John Lewis
Some time ago a taskforce established by mayoral economic body the London Development Agency set a target to use the Games to cut London worklessness by 70,000. John Lewis' Saunders says his store, which looks to open on schedule on 13 September, can help put a dent into that figure.
“We are a local shop, and with that will be local jobs,” he says as we walk past the frontage of a store marked ‘Jamie’s Italian’. “On offer will be 750 jobs, with 80 per cent ring-fenced for local people, and 400 for the long-term unemployed residents of Newham.
“John Lewis will be investing £35 million. But it’s not just about the investment – there’s a halo effect as well, in terms of commercial developments, housing and infrastructure. If you’re thinking of buying a new home in an area that’s being regenerated, this is a great place to invest. Five years ago it might not have been the first place on your list – now, it’s very much on the list.”
Wales will no doubt be hoping that the halo effect lasts long into the future.
Watch a slideshow of Westfield Stratford City images
“We are a local shop, and with that will be local jobs,” he says as we walk past the frontage of a store marked ‘Jamie’s Italian’. “On offer will be 750 jobs, with 80 per cent ring-fenced for local people, and 400 for the long-term unemployed residents of Newham.
“John Lewis will be investing £35 million. But it’s not just about the investment – there’s a halo effect as well, in terms of commercial developments, housing and infrastructure. If you’re thinking of buying a new home in an area that’s being regenerated, this is a great place to invest. Five years ago it might not have been the first place on your list – now, it’s very much on the list.”
Wales will no doubt be hoping that the halo effect lasts long into the future.
Watch a slideshow of Westfield Stratford City images




