SEGRO is to develop 1.4 million sq ft of industrial space in East London under a deal signed with Mayor of London Boris Johnson.
The five sites, known collectively as East Plus, total 86 acres across Newham, Barking & Dagenham and Havering on both sides of the A13 corridor linking central London and Tilbury.
SEGRO estimates that the sites can support some 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. It expects to invest about £180 million over the coming years.
Johnson said: “We are already working hard to build the houses that people need, so I am delighted to welcome SEGRO aboard to help create the jobs. This site has bags of potential and I can see it becoming one of the most sought after addresses for industry – whether large or small.”
And SEGRO chief executive David Sleath said: “We have the commitment, expertise and knowledge to help the GLA meet the needs of a growing population and deliver one of the most sustainable and attractive industrial areas in London and the South East, as well as creating over 6,500 jobs across a range of sectors. This significant partnership comes swiftly after our recent acquisition of a 20 acre site inside the m25 in Purfleet.”