London Thames Gateway Development Corporation (LTGDC) has made two strategic acquisitions designed to accelerate development in the London Riverside portion of Thames Gateway. The £30 million (€40,90 million) package of land and property includes a 3 ha site in New Road, Rainham bought from carpet company Carpetright PLC.
LTGDC has also bought property in south Dagenham. The acquisition of a 1.33 ha site known locally as "Polar Ford" will also help development progress in the area. Along with adjoining owners, the London Development Agency and AXA, LTGDC wants to safeguard part of the route of the planned East London Transit, a fast bus-based public transport scheme.
"These acquisitions are good examples of our commitment to drive lasting positive change in our operating area and to deliver early outcomes", explained LTGDC Chief Executive, Peter Andrews."We will continue to seek further strategic acquisition opportunities in both the Lower Lea Valley and London Riverside".
Responsibility for the development of the massive Thames Gateway region, which extends along both north and south banks of the Thames estuary east of London, is divided between different organisations. LTGDC is responsible for The Lower Lea Valley, to be home the London Olympics in 2012, and the 3,500 ha London Riverside area between Becton and Rainham and including Barking Riverside.
Progress in the London Riverside area has been given an additional boost with the opening this week of a new industrial development.
Easter Park at Beam Reach, has been launched by private-public organisation Gateway to London, which promotes business development in the area, and has 14,399 m² of industrial/distribution units 70% of which has been sold or is under offer to businesses including Data & Records Management (part of the Wincanton Group), Ruskim Seafoods and A1 Pharmaceuticals already located there.
Speaking at the launch, Aman Dalvi, Chief Executive of Gateway to London said the launch was: "Yet another example of the significant investment and activity that we are seeing in Thames Gateway London, the UK's fastest growing business location."