Parties agree to cancel Docklands scheme deal

The London Development Agency (LDA), the Bank of Scotland and developer Silvertown Quays Ltd have reached an out-of-court settlement over the huge Silvertown Quays regeneration project in the Docklands. The development agreement for the 5,000-home Thames Gateway scheme has been terminated following "agreement between all the parties", LDA said. Meanwhile, technology firm Siemens said it plans to spend L30 million to build an office and exhibition center on land owned by the LDA and the London Borough of Newham at one end of the site.