The scheme, which spans five sites, will be transformational for the community, with the potential to create up to 7,000 jobs and 1.4m sq ft across 86 acres over the next 10 years.
Lambert Smith Hampton has been appointed by SEGRO to act as one of the agents for the scheme. SEGRO were selected as the Greater London Authority’s (GLA) preferred partner to deliver the development over a 10 year arrangement. This is the largest deal of its kind between the public sector and a private land developer in the capital.
Beam Reach 5 in Rainham is the first scheme to be marketed and will see over 330,000 sq ft of industrial development. Situated close to the A13, it will be built over two phases with construction of phase one scheduled to take place by October 2016 and phase two beginning in September 2018.
Paul Fitch, Director – Industrial & Logistics, commented: “This scheme is a really exciting opportunity to deliver sustainable development across East London. With the growth in e-commerce, we are seeing increasing demand for industrial space. This scheme will not only help to meet this demand, but also support important regeneration across East London.”
Lambert Smith Hampton will be acting as joint agent on this scheme alongside Knight Frank and Glenny.