SEGRO plc, (‘SEGRO’) has appointed Knight Frank, Glenny and Lambert Smith Hampton as the agents working on the new 86 acre redevelopment opportunity in East London.
SEGRO and the Greater London Authority (‘GLA’) announced the partnership, known as East Plus, in early October. It is the largest deal of its kind between the public sector and a private land developer in the capital and is considerable step forward for the Mayor of London’s vision for regenerating the area and SEGRO’s expansion into East London.
East Plus is a series of industrial locations spanning Newham, Barking & Dagenham and Havering and will have the potential to create up to 6,500 new jobs in East London. The sites can support approximately 1.4 million sq ft of new logistics and light industrial space, suitable for occupiers ranging from blue-chip companies to start-up firms. The land will be drawn down and developed by SEGRO over a ten year period, with construction on the first phase to begin in late 2016.
Alan Holland, SEGRO’s Business Unit Director of Greater London, said:
“Since announcing the partnership in October, we have worked with the GLA and local authorities to establish real momentum on this transformational project. As part of this, we have appointed a focused team of agents to bring forward customers to the new developments across East London and we look forward to progressing our development plans.”