Beam Reach 5 Planning ConsultationPosted: 23rd Feb 2016 | Written by Katrina Gilbert
The Mayor of London, Boris Johnson MP announced major plans for the redevelopment of 86 acres of industrial land owned by the Greater London Authority in London Riverside. The development will have the potential to create 6,500 new jobs in east London and means that 99 per cent of all Greater London Authority land has now been released for development.
SEGRO, one of the UK’s leading industrial property companies, has been selected as the Greater London Authority’s preferred partner to deliver the development on the sites, which are known collectively as East Plus. East Plus is a series of industrial locations spanning Newham, Barking & Dagenham and Havering on both sides of the A13 corridor.
The planned 10 year partnership between the Greater London Authority and SEGRO will see 86 acres of land across five sites rejuvenated for a range of industrial uses, with the land to be transferred to SEGRO in stages over the life of the partnership. SEGRO estimates that the sites can support approximately 1.4 million sq. ft. of new urban logistics and light industrial spaces, suitable for occupiers ranging from blue-chip companies to start-up firms. SEGRO’s investment is expected to be approximately £180 million over the coming years.