Out-Law / Your Daily Need-To-Know

Park Royal study to inform regeneration strategy

Out-Law News | 28 May 2014 | 3:23 pm |

The Deputy Mayor of London for business and enterprise Kit Malthouse has released the results of a study designed to guide regeneration and encourage investment in the Park Royal opportunity area in west London.

The Park Royal Atlas (86-page / 22.31 MB PDF) is the result of a mapping exercise and a five week door to door survey of every business in Park Royal, which it says is the largest industrial area in the capital.

The Atlas said that businesses in the area employ an estimated 31,000 people, with sectors ranging from the film industry to food manufacture. 75% of businesses are micro businesses, employing fewer than 10 people, and a further 20% are small businesses. 1% of businesses are large, including industrial bakery McVities and the UK headquarters of Carphone Warehouse.

Both the Park Royal area and the Old Oak Common district in its eastern corner are earmarked for significant redevelopment in the London Plan. A High Speed 2 and Crossrail station is planned for Old Oak Common, to be completed by 2026, with 55,000 new jobs and 24,000 new homes expected for the new district.

"The arrival of HS2 and Crossrail will be a real game-changer for Park Royal," said Malthouse in a statement. "This fascinating, in-depth study of all of its business activities will ensure Park Royal can reap the benefits of the planned regeneration and continue to thrive and grow for another hundred years," he said.