Berkeley to build homes and shops at £150m Wapping site
FORTRESS Wapping is set for a new life as an upmarket housing estate, after homebuilder Berkeley Group bought the site for around £150m.
Berkeley confirmed yesterday that it had agreed to take on the 15 acre site from media giant News International, which has moved to office space across the road.
The firm’s subsidiary St George, which is yet to secure planning permission, will now work with Tower Hamlets to plan its Wapping Village project, which will include houses, shops and offices.
Berkeley also announced yesterday that it has paid £5m to Tom Carey, the former boss of St George, to end an unfair dismissal and age discrimination case.