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Client Name: Biota!

Client details: National Aquarium Development by the Zoological Society of London

This project is for the development of a £100 million new National Aquarium in London’s Docklands. We act for Biota! a registered charity and subsidiary of the Zoological Society of London in connection with its development of the Aquarium.  A section 106 Agreement with Newham Borough Council requires the Aquarium to be the trigger for the wider development of Silvertown Quays.  The Aquarium will form the centrepiece of the development of Silvertown Quays at a proposed cost in excess of £100m. The development is mixed use and incorporates a percentage of social/affordable housing as well as the Aquarium and another visitor attraction, all of which were requirements of the s106 Agreement. The size, nature, location and timing of this project as well as the involvement of the London Development Agency make this a very high profile project.

The project has involved negotiation leading to the exchange of a highly bespoke, two-stage and multi-party development agreement with the developer of Silvertown Quays, the LDA, and the project manager for the development of the Aquarium. It required a wide range of advice including real estate, construction, funding, company formation, commercial and charity registration.  

The first stage of the development agreement has involved the appointment of the consultants and the appointment of the contractor under the first stage of the two stage procurement process.  The project is heavily collaborative with Biota! contributing to the design and management of the project as well as approving the design and construction appointments.  The project is not proceeding to the timescales initially envisaged prior to the credit crunch but the stakeholders continue to explore fresh options.

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