Thames Gateway project 'requires leadership'

Former deputy prime minister John Prescott has said that the Thames Gateway regeneration project requires effective leadership if it is to be a success.

The massive £9 billion regeneration schemes aims to transform the Thames Estuary into a major commercial and residential centre that espouses the highest standards of energy efficiency.

But critics - including members of a parliamentary committee - have long accused the project of poor management and significant funding gaps.

Alluding to those issues, Mr Prescott accepted some blame by saying the bureaucracy that has dogged the project was in part due to his over-reliance on government agencies.

He explained: "I tried to avoid the problems created by Michael Heseltine in Canary Wharf, when he just swept away the boroughs - but there are now so many of these bodies, I get the feeling the decision-making is not sufficiently effective."

Overall, however, most observers agree there have been promising signs emanating from the project, notably including the high uptake of new flats in eastern areas of the capital.

Up-market Estate Agent Knight Frank recently confirmed it has already sold properties in two of its new developments in Barking.

Published 27th March, 2008

© 2008 Estates IT Limited