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IKEA is planning to build a “mini city” covering as much as 26 acres of land in London. The development, which is to be situated near to the Olympic Park and has been christened with the moniker Strand East, will be built by LandProp, a company from inside the Inter IKEA Group, which holds assets in the furniture chain.
The site, which will be just a very short distance away from the 2012 Olympic Stadium, will feature as many as 1200 new homes, a health surgery, a school, a hotel with up to 350 bedrooms, and as much as 480,000 square feet of new office space . Also set to be included in the new mini city development are a water taxi service, an illuminated wooden tower reaching as high as 130 feet, and a floating cocktail bar.
The development, which is situated in Stratford in East London, marks the very first occasion in which the IKEA Group has attempted to move into the property market in the United Kingdom. The firm already operates as such throughout almost the whole of Europe, but is now intending to move into the United Kingdom in a big way, with a portfolio of undisclosed locations set to be built all across the country. The Swedish furniture store Ikea has 15 stores in the United Kingdom at present, including one that is situated by Junction 26 of the M1 on the outskirts of Nottingham.
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