A major new employment, training and skills facility in Spitalfields, located in the former London Fruit and Wool Exchange (LFWE), was approved on Tuesday night at a Tower Hamlets Council Cabinet meeting.
Tower Hamlets council negotiated a financial contribution of £1.2 million from the developers, Exemplar, when granting planning permission for the redevelopment of the LFWE. This funding was specifically secured to provide local training and improved employment and enterprise opportunities in the area.
In addition, the council will have 500 sq m of commercial space rent and service charge free, for 10 years. The centre, scheduled to open in July 2018, will feature a bespoke training facility for residents and will work closely with local employers as part of the WorkPath partnership.
Altogether, the facility will be delivered with an estimated saving of £2 million.
John Biggs, Mayor of Tower Hamlets, said:
“This is a great opportunity for us to deliver specialised training, help and expertise in employment directly to residents in Tower Hamlets.
“I am delighted that as a result of the funding we secured from the developer over a 1,000 residents a year will benefit from using this facility, and it is expected around 150 residents will be directly helped into jobs as a result.
“This deal will provide us with a modern training centre which will bring fantastic benefits to the borough.”
The centre will deliver:
– Training courses developed with local employers
– Training linked to live vacancies
– Work experience placements, apprenticeships
– New job opportunities for local residents
After 10 years, the space will be handed back to the landlord.
The full development is one of the largest developments in London at 320,000sq ft. The site will include retail, restaurants, community space and offices.
– Press realise