Teesland is to launch a ÃÂ£100m fund targeting the Thames Gateway, the huge regeneration area east of London. The fund manager has been working with Colliers Capital to identify investment and development opportunities to the east of Tower Bridge.
Sites have already been earmarked as possible acquisitions for the fund, mostly multi-let industrial estates worth between ÃÂ£10m and ÃÂ£20m.
It is understood that Teesland is also looking at development opportunities for mixed-use regeneration schemes, although that will depend to an extent on the local authorities in control of the land.
The Thames Gateway is set to be transformed over the next few years. A number of huge regeneration schemes are planned, including the refurbishment of the Millennium Dome and surrounding area, and extensive investment in rail infrastructure.
Teesland Joint Chief Executive, Mickola Wilson, said that the Thames Gateway was as yet underrepresented among investors. Ã¢â¬ÅAt the moment, that quadrant of London has not benefited like the westÃ¢â¬Â, she said. Ã¢â¬ÅIt is a relatively underdeveloped area, with relatively low rents.Ã¢â¬Â