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Last Updated: Tuesday, 12 June 2007, 12:37 GMT 13:37 UK
Oriental City traders' settlement
Oriental City
Oriental City will shut down next May
A package of compensation has been agreed for traders at London's second Chinatown who will be forced out when the site is redeveloped next year.

Oriental City in Colindale, north London, is to be knocked down to make way for flats and a superstore.

Campaigners dropped threats of legal action as developers agreed a number of measures, including free rent for tenants until the site closes in May.

Temporary community facilities will also be provided during construction.

Timetable for closure

Developers, Development Securities, have also set out a clear timetable of when the centre will close.

The firm's Julian Barwick said: "We recognise that it is not possible to temporarily relocate tenants during redevelopment and because of this there is a period of uncertainty for the tenants.

"Therefore, we have agreed a clear timetable for close down of the centre.

"We have also agreed a comprehensive package of measures including rent free from now until closure to provide assistance to tenants."

Yip Fai Liu, of the Oriental City Traders Association, said they were happy with the outcome.

"We also want to make it clear to all our loyal customers that it is still very much business as usual at Oriental City for many months to come."

Campaigners had urged the government to review plans for the 200m project and had considered calling for a judicial review.




SEE ALSO
Mayor 'no power' over Chinatown
15 Mar 07 |  London

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